MUNSTER, GERMANY - MAY 20: A Leopard Tank of the Bundeswehr Panzerlehrbrigade 9 (9th Armoured Demonstration Brigade) during a presentation of capabilities by the unit (Getty Images)
BELFAST — Franco-German land vehicles manufacturer KNDS has decided to indefinitely hold off on a planned stock market listing, citing concern around European defense “market volatility.”
Shareholders told the firm of “their intention to resume the Initial Public Offering (“IPO”) process upon the return of more favorable market conditions,” according to a statement released on Wednesday.
KNDS said it has “completed substantially all required preparation phases for its proposed listing.” The company, which produces the Leopard 2 main battle tank among other armored vehicles, is due to list its shares in Frankfurt and Paris.
“KNDS and its shareholders will continue to monitor the capital markets conditions closely and stand ready to resume the IPO process as soon as market conditions allow,” it added.
