Defense conglomerate KNDS has confirmed it will proceed with an initial public offering, listing shares on the Euronext Paris and Frankfurt Stock Exchange.
The company announced the move on Wednesday, marking a significant step in the commercialization of Europe’s land-based defense capabilities.
Current shareholders are expected to sell up to 20% of the existing share capital in the offering.
Current shareholders are expected to sell up to 20% of the existing share capital in the offering.
The decision follows months of negotiations between France and Germany to finalize their respective stakes in the entity, which was formed by the merger of French firm Nexter and German manufacturer Krauss-Maffei Wegmann.
The listing removes a key structural barrier that had previously delayed the company’s entry into public markets.
France and Germany have agreed to hold equal 40% stakes each in KNDS, a arrangement that satisfies regulatory requirements for state ownership while allowing for private investment.