What Happened
Franco-German Armored Vehicle Manufacturer to List on Paris and Frankfurt Exchanges
KNDS, a Franco-German armored vehicles manufacturer, has announced plans to go public with an initial public offering (IPO) in Paris and Frankfurt next year. The IPO will support the company’s long-term growth strategy and broaden its access to capital markets. KNDS produces a range of land systems, including Leopard 2 tanks, Boxer infantry vehicles, and artillery ammunition. The company’s joint venture with Krauss-Maffei Wegmann and Nexter has amassed an order intake of €11.2 billion in 2024. The IPO is subject to market conditions and will be used to finance industrial capacity, technology, and innovation. The announcement comes after KNDS and Leonardo announced a joint development of a mobile artillery solution for the Italian Army, which is expected to contribute to the company’s growth and competitiveness in the European defense market. The IPO is expected to be a significant event in the European defense industry, and its outcome will be closely watched by investors and analysts. The listing is expected to take place in 2026, according to Breaking Defense.