KNDS, the joint venture between Germany’s Krauss-Maffei Wegmann and France’s Nexter, has suspended its planned initial public offering.
The company cited current market volatility as the primary reason for the delay, stating that the listing will only proceed when conditions improve.
This decision follows reports that owners struggled to convince potential investors of the company’s valuation, creating a standoff between the desired price and market appetite.
The cancellation marks a significant setback for the European defense sector’s capital markets ambitions.
KNDS had been preparing for dual listings in Paris and Berlin, aiming to raise capital for expansion amid rising global defense spending.
The abrupt halt underscores the fragility of the current IPO window, where even high-profile strategic assets face scrutiny over pricing multiples.