Maritime technology firm Kongsberg Maritime is set to become a stand-alone company after shareholders of Kongsberg Gruppen approved the separation at an extraordinary general meeting last week.

The company is expected to list on the Oslo Stock Exchange on April 23, it said in a statement on its website on Thursday. 

Following the split, Kongsberg Defence & Aerospace and Kongsberg Discovery will form a new group called Kongsberg, while Kongsberg Maritime will operate as an independent business.

“This was one of many milestones we will go through, and it was good to have this step confirmed,” Lisa Edvardsen Haugan, incoming CEO of the new company, said.

“At Kongsberg Maritime, we are ready to take the next step and stand on our own feet.”

The Norwegian state has said it plans to retain a 50.004% ownership stake in both companies