KNDS Sets Sights on IPO Debut in Frankfurt and Paris
- On Wednesday, Franco-German defense giant KNDS announced plans to list its shares in Paris and Frankfurt in an initial public offering expected to value the company at around 15 billion euros .
- Europe's defense industry has seen a rally in share prices and new listings following Russia's invasion of Ukraine and a shift in foreign policy under President Donald Trump that drove increased regional defense investment.
- KNDS Chief Executive Jean-Paul Alary announced the German government reached an agreement with Wegmann to acquire 40% of share capital, noting Europe is "entering a new era of defense and security."
- To preserve parity, Germany and France agreed that over the next 10 years, they may only reduce shareholdings to below 30% with the other party's consent; each may appoint three board members.
- Current shareholders GIAT Industries and Wegmann will sell up to 20% of existing share capital, with shares sold exclusively to institutional investors rather than a retail offering.
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The Market Goes to War: Europe Funds Rearmament on the Bourse
Markets Key Facts —The deal. Franco-German tank maker KNDS plans to list shares in Paris and Frankfurt, targeted for July. —The owners. France and Germany will each hold forty per cent, leaving about a fifth in public hands. —The control. Germany keeps a golden share, a veto over big decisions at the German business. —The […] The post The Market Goes to War: Europe Funds Rearmament on the Bourse appeared first on The Rio Times.
Another major arms company is set to go public in Europe. KNDS, the manufacturer of Leopard 2 tanks and Caesar howitzers, wants to sell a fifth of its shares in an initial public offering (IPO). They will be traded in Frankfurt am Main and Paris. The company will become a Franco-German joint venture, and its main rivals will include Czech arms company Czechoslovak Group.
Franco-German industrial cooperation, weakened, is trying to revive itself through the KNDS group, a manufacturer of tanks and cannons, which will soon be introduced on the Stock Exchange.
The "champion" of land weapons will raise at least €3 billion by placing 20% of its shares in Paris and Frankfurt. The agreement reached between the two countries consolidates the group at the moment when it comes to relaunching the "char of the future".
It is the most important German IPO of the year: By mid-July, the armament giant KNDS wants to go to the stock exchanges in Frankfurt and Paris. The federal government is rising to the largest armaments shareholder and pays more than the issue price for its share.
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