Siemens energy shares recover after initial slump on Frankfurt debut

Siemens intends to keep a blocking minority stake of the business of around 25% for the next five years after its initial sale of shares over the next 18 months

Siemens Energy AG shares recovered after dipping as much as 13% on debut in Frankfurt, though the market value of the company whose technology is behind roughly one-sixth of the world’s electricity remained below expectations.
 
The shares were little changed at 11:45 a.m. in Frankfurt, hovering around the opening price of 22.01 euros. That represents a market capitalization of about 16 billion euros ($18.6 billion), compared with the 17 billion-euro net book value parent Siemens AG flagged ahead of the spinoff.
 
Monday’s listing is the latest step in the unwinding of Siemens -- a German conglomerate making a