The new Siemens Energy unit is now due to be untethered from its parent company and spun off in a public listing by mid-October.
A majority (61.94%) of the capital stock entitled to vote on the spin-off was represented at a virtual shareholders’ meeting in July 2020. Of the capital stock represented, 99.36% approved the spin-off.
Siemens is due to present plans for the spin-off to analysts and investors at a capital market day on 1 September.
It then plans to publish a securities prospectus on 28 September, followed by the listing in mid-October.
Siemens had first announced the spin-off in May 2019, with its supervisory board unanimously approving the plans that same month.