OHB Forges Military Space Alliance as €1.2 Billion War Chest Signals Ambition
13.06.2026 - 14:42:15 | boerse-global.de
The Bremer space group OHB SE is accelerating its transformation into a defence heavyweight, securing a €1.2 billion financing mandate and installing a former Deutsche Börse chief on its supervisory board — all while one of its largest shareholders puts its exit on hold.
The company’s annual general meeting on June 8 approved the issuance of up to €1.2 billion in convertible bonds, warrant-linked bonds and profit participation rights through 2031. The authorization allows a contingent capital increase of as much as 20 percent. The move comes as OHB’s order backlog swells to a record €3.35 billion, with serial production requiring substantial upfront financing that the new framework is designed to cover.
Shareholders also elected Dr. Theodor Weimer, the former CEO of Deutsche Börse AG, to the supervisory board for a three-year term, succeeding Claire Wellby. Market participants view the appointment as a signal that OHB is sharpening its international focus.
Military Satcom Joint Venture Takes Shape
The strategic pivot is most visible in the creation, on June 11, of OHB Rheinmetall Space Networks GmbH, a joint venture with the defence conglomerate Rheinmetall. The company will focus on secure satellite communications for the German military, with Rheinmetall contributing systems integration and infrastructure expertise and OHB supplying satellite technology. Separately, OHB is also cooperating with the defence AI startup Helsing.
Should investors sell immediately? Or is it worth buying OHB SE?
The push for European autonomy in space comes as SpaceX attracted about $75 billion in its IPO last Friday, giving Elon Musk’s company a market valuation north of $2 trillion. German Chancellor Friedrich Merz has called for increased government support for domestic industry to maintain technological sovereignty. Danish pension fund Akademiker Pension has placed SpaceX on a blacklist over governance concerns and is instead channelling capital into European defence projects.
KKR’s Exit Delayed by SpaceX Storm
The SpaceX IPO also caused a two-week delay in the planned share sale by OHB’s largest shareholder, KKR. The private equity firm, which holds about 29 percent of OHB, aims to reduce its stake to a single-digit percentage by June 30. The original schedule for mid-June was pushed back because institutional investor attention was fully absorbed by the SpaceX offering.
Once KKR completes its exit, OHB’s free float will climb from today’s roughly 6 percent to around 26 percent. That shift opens the door to index inclusions and broader institutional ownership, fundamentally reshaping the shareholder base. The company kept its dividend unchanged at €0.60 per share.
OHB SE at a turning point? This analysis reveals what investors need to know now.
Stock Review: Rally Leaves Room Below Record
The stock closed Friday at €409.00, up 0.49 percent on the day and roughly 10 percent higher on the week. Since the start of the year, the shares have gained 237 percent, though they remain about 40 percent below the May all-time high of €688.00. The annualized 30-day volatility stands at nearly 150 percent.
Technically, the stock holds comfortably above its 50-day moving average of €368.10 and well above the 200-day line. With the KKR placement now expected on June 30, the profile of the stock is set to change dramatically — both in liquidity and in the composition of its investor base.
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OHB SE Stock: New Analysis - 13 June
Fresh OHB SE information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
