KNDS, the Franco-German defense conglomerate formed by the merger of Nexter and Krauss-Maffei Wegmann, has postponed its initial public offering.
The company informed shareholders that it is stepping back from the planned listing to wait for more favorable market conditions, according to Der Spiegel.
The decision comes as defense stocks have faced significant selling pressure, eroding valuations across the sector.
KNDS had been advancing plans to list its shares on both the Paris and Berlin stock exchanges, a move intended to capitalize on Europe’s growing appetite for public-market financing of its defense buildup.
The postponement signals that even high-demand defense names are finding the current equity environment challenging.
Europe is increasingly turning to public markets to fund its military modernization, with KNDS’s IPO viewed as a bellwether for the region’s defense industrial strategy.