KNDS Starts IPO Process in Paris and Frankfurt After France and Germany Stake Deal
KNDS, the defense group responsible for producing tanks and artillery for France and Germany, has initiated the formal process for an initial public offering on the Paris and Frankfurt stock exchanges. The announcement marks the final step in securing equal ownership stakes for the two national governments, clearing the way for the European defense giant to go public.
According to a French defense ministry document and market reports, Paris and Berlin agreed to purchase a 40% stake each in KNDS, with the remainder allocated to public investors. The German federal budget committee is scheduled to vote on the acquisition during its Wednesday session. The dual listing will add a major new publicly traded defense contractor to the European capital markets.
From the sources (14 posts)
@reutersKNDS family owners to sell 40% stake to German government, source says
@reutersbizKNDS family owners to sell 40% stake to German government, source says
@firstsquawkA German defence ministry document states the budget committee will decide on buying a stake in KNDS during its June 24 session.
@firstsquawkGermany aims to secure a golden share in KNDS’s German unit, according to a defence ministry document.
@financialjuiceGerman government: Seeking to secure 40% stake in KNDs
@financialjuiceGerman government: through close dialogue and equal partnership with French counterparts, federal government aims for successful, forward-looking development of KNDs
@firstsquawkFRANCE, GERMANY REACH KNDS DEAL, PAVING WAY FOR POSSIBLE IPO
@financialjuiceGerman government: plans to shrink stake later while keeping same governance rights as France
@businessThe German and French governments are set to hold equal stakes in defense firm KNDS
@cnbcDefense giant KNDS moves closer to IPO after France-Germany stake deal
@businessTankmaker KNDS starts the process to hold an IPO in Frankfurt and Paris
@cnbcDefense giant KNDS plans IPO in Paris and Frankfurt
@ftTankmaker KNDS starts process for listing in Paris and Frankfurt
@firstsquawkTankmaker KNDS starts process for listing in Paris and Frankfurt