Workers assemble Leopard 2A7 main battle tanks at the KNDS heavy weapons factory on August 01, 2025 in Kassel, Germany.<\/p>\n
Sean Gallup | Getty Images News | Getty Images<\/p>\n
Defense giant KNDS has announced its intention to proceed with an IPO, saying on Wednesday that it plans to list its shares in Paris and Frankfurt.<\/p>\n
The company is one of Europe’s largest producers of military equipment, including armoured vehicles and ammunition used in Ukraine. The company is viewed as a key to the continent’s rearmament push that has benefited defense companies like\u00a0Rheinmetall<\/a>,\u00a0Saab<\/a>, and\u00a0BAE Systems<\/a>.<\/p>\n The listing is expected to see the sale of up to 20% of the company’s existing share capital by its current shareholders, GIAT Industries \u2014 a holding company owned by the French state \u2014 and the German private holding company Wegmann & Co. <\/p>\n Shares will be sold directly to institutional investors, with no retail offering.<\/p>\n KNDS, the maker of the Leopard 2 battle tank among other military hardware, also said Wednesday that the German government had reached an agreement with Wegmann to acquire 40% of its ordinary share capital.<\/p>\n Announcing the IPO on Wednesday, KNDS chief executive Jean-Paul Alary said that Europe was “entering a new era of defense and security” as militaries are “modernizing at speed and rebuilding critical land defense capabilities.”<\/p>\n This is a developing story. Check back for updates.<\/p>\n