Norway's Kongsberg Gruppen to spin off maritime business in IPO (updated)
30/10/2025 06:16
Kongsberg Gruppen to split into two companies Arms maker unit to keep current stock market listing Will list civilian-focused maritime business in IPO Adds quote, details of transaction in paragraphs 1-7 OSLO, Oct 30 (Reuters) - Norwegian defence contractor Kongsberg Gruppen KOG.OL, maker of the Joint Strike Missile air defence system, said on Thursday it planned to spin off its civilian-focused Kongsberg Maritime business in an initial public offering on the Oslo Bourse. Synergies between the business areas have diminished over time, and the spin-off will create two focused companies, each positioned to seize global growth opportunities within their respective markets, Kongsberg Gruppen said in a statement. The Norwegian state, which owns 50% of the group's shares, has expressed support for the transaction, the company said, adding that the demerger and separate listing of Kongsberg Maritime was expected to take place in April 2026. The government did not immediately respond to a request for comment. Kongsberg Maritime makes propulsion systems, emission reduction solutions and other equipment for the shipping industry ranging from cargo and passenger ships to fishing boats and offshore wind turbine installers, its web site shows. The two remaining units, Kongsberg Defence & Aerospace and Kongsberg Discovery, will become a single technology and defence-focused group and maintain the current stock market listing. "The consolidated technology- and defence-company ... addresses critical needs in defence, security and surveillance, delivering solutions for both civilian and defence applications," CEO Geir Haoy said in the statement. (Reporting by Terje Solsvik. Editing by Anna Ringstrom and Mark Potter) ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))