thyssenkrupp AG (XTRA:TKA)'s electrolysis business is aiming for proceeds of up to EUR 600 million ($687 million) by selling new shares in a possible initial public offering this year, betting on the $130 billion hydrogen sector it supplies. Thyssenkrupp plans to keep a majority in the business - which is being rebranded as Thyssenkrupp Nucera - following any IPO and aims to maintain the current shareholding ratio with its Italian co-owner De Nora (IPO-DENR.MI), said Volkmar Dinstuhl, who leads the conglomerate's Multi Tracks division. This implies a free-float of up to 25%.