{"id":1673,"date":"2026-07-02T10:25:07","date_gmt":"2026-07-02T10:25:07","guid":{"rendered":"https:\/\/www.europesays.com\/defence\/1673\/"},"modified":"2026-07-02T10:25:07","modified_gmt":"2026-07-02T10:25:07","slug":"tank-maker-knds-delays-stock-listing-citing-defense-market-volatility","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/defence\/1673\/","title":{"rendered":"Tank maker KNDS delays stock listing, citing defense-market volatility"},"content":{"rendered":"

PARIS \u2014 French-German tank maker KNDS delayed plans for a stock-market listing<\/a>, citing market volatility for the European defense sector, with the company\u2019s shareholders planning to resume the process for an initial public offering \u201cupon the return of more favorable market conditions.\u201d<\/p>\n

The maker of Germany\u2019s Leopard tank and France\u2019s Caesar self-propelled howitzer said it has \u201ccompleted substantially\u201d all the required preparations for its proposed stock listing in Paris and Frankfurt, and engaged extensively with investors, in a statement published Wednesday night.<\/p>\n

The announcement comes just a week after KNDS said it was going ahead with plans for its stock-market listing, and after shares in its closest listed European peers Rheinmetall and Czechoslovak Group took a tumble last week. Shares in both companies have since recovered from last week\u2019s drop, though over the past month Rheinmetall has slipped 13% and CSG is down 17%.<\/p>\n

\u201cKNDS and its shareholders will continue to monitor the capital markets conditions closely and stand ready to resume the IPO process as soon as market conditions allow,\u201d the company said.<\/p>\n

The Financial Times reported that KNDS has been struggling to convince investors<\/a> to back an IPO valuation for the company of more than \u20ac12 billion (US$13.7 billion).<\/p>\n

The most recent European defense company stock market listing was CSG, which listed in Amsterdam in January in what was then the biggest defense IPO ever. The Czech company\u2019s shares have fallen about 44% from their IPO price, cutting its market valuation by more than \u20ac11 billion to \u20ac13.8 billion.<\/p>\n

As part of the listing plan, French state-owned Giat Industries and German family-owned Wegmann & Co will together sell about 20% of KNDS to institutional investors through private placements, with the Federal Republic of Germany buying Wegmann\u2019s remaining 40% stake via Kreditanstalt f\u00fcr Wiederaufbau. France will continue to own a 40% stake in the company through Giat.<\/p>\n

KNDS said discussions with investors confirmed that they share the company\u2019s \u201cview of its differentiated industry positioning and their belief in KNDS\u2019s long-term strategy.\u201d<\/p>\n

The company and its shareholders remain \u201cfully aligned\u201d on the priorities of delivering for customers, expanding the firm\u2019s European presence and speeding up development of \u201cinnovative complete mission solutions\u201d to strengthen European defense, KNDS said.<\/p>\n

Rudy Ruitenberg is a Europe correspondent for Defense News. He started his career at Bloomberg News and has experience reporting on technology, commodity markets and politics.<\/p>\n","protected":false},"excerpt":{"rendered":"PARIS \u2014 French-German tank maker KNDS delayed plans for a stock-market listing, citing market volatility for the European…\n","protected":false},"author":2,"featured_media":1674,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[114,634,14,1154,636,1153,627,91,92,559,109,1152],"class_list":["post-1673","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-armored-vehicles","tag-circulated-defense-news","tag-defence-industry","tag-defense-market","tag-defense-news","tag-defense-stocks","tag-dn-dnr","tag-france","tag-germany","tag-ipo","tag-knds","tag-leopard-tank"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/posts\/1673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/comments?post=1673"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/posts\/1673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/media\/1674"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/media?parent=1673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/categories?post=1673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/defence\/wp-json\/wp\/v2\/tags?post=1673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}