business
KNDS Announces IPO Plans to List Shares in Paris and Frankfurt
KNDS said Wednesday it will list shares in Paris and Frankfurt. Current shareholders plan to sell up to 20 percent of existing share capital directly to institutional investors.
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KNDS announced Wednesday that it will proceed with an IPO listing shares in Paris and Frankfurt. The company, one of Europe’s largest military equipment producers, said current shareholders will sell up to 20 percent of existing share capital. Shares will be offered only to institutional investors, with no retail component.
A German private holding company. The German government reached an agreement with Wegmann to acquire 40 percent of Wegmann’s ordinary share capital in KNDS. KNDS produces the Leopard 2 battle tank and other armoured vehicles and ammunition used in Ukraine.
Chief executive Jean-Paul Alary said Europe is entering a new era of defense and security as militaries modernize at speed and rebuild critical land defense capabilities.
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