KNDS: German-French tank manufacturer postpones IPO
Key takeaways
- The German government had been set to purchase a 40% stake in KNDS, but the prerequisite stock market flotation has been postponed.
- In a statement, KNDS put the postponement down to the current "volatility of the European defense sector" and said it was waiting for "more favorable market conditions."
- KNDS, which produces German Leopard-2 and French Leclerc battle tanks, among other weapons systems, is currently owned 50-50 by the French state and the German Wegmann Group.
Why this matters: an international story with cross-border implications worth tracking.
The German government had been set to purchase a 40% stake in KNDS, but the prerequisite stock market flotation has been postponed. Meanwhile, a German drone start-up has raised $1 billion in fresh funding.
https://p.dw.com/p/5GSXm The German government, which had been set to purchase a 40% stake in KNDS, said it is still interested in the company Image: Wolf von Dewitz/dpa/picture alliance Advertisement Franco-German arms manufacturer KNDS has announced that it is postponing a planned stock market flotation which had been set to enable the German government to take a 40% stake in the company.
In a statement, KNDS put the postponement down to the current "volatility of the European defense sector" and said it was waiting for "more favorable market conditions."