KNDS NV, the Franco-German defense company best known for building Leopard tanks, is approaching a pivotal moment. The company’s board will meet Thursday to decide whether to move forward with a dual IPO on the Frankfurt and Paris stock exchanges.
The company’s valuation estimates range from €5 billion to €20 billion, and it’s looking to raise up to €5 billion in new capital.
What KNDS actually does, and why governments care
KNDS manufactures land systems, armored vehicles, and Leopard tanks. The company was formed as a joint venture combining France’s Nexter and Germany’s Krauss-Maffei Wegmann.
Germany plans to acquire a 40% stake in the company following the listing, designed to give Berlin equal footing with Paris in terms of ownership and voting power.
