KNDS Targets Dual IPO to Fuel European Defence Ambitions

Franco-German defence giant KNDS plans a dual IPO in Paris and Frankfurt to capitalize on investor interest. The move is part of its strategy for long-term growth and enhanced capital access. Formed from Krauss-Maffei Wegmann and Nexter, KNDS expects to further invest in industrial capacity and technology.

Franco-German defence conglomerate KNDS announced plans for a dual listing IPO in Paris and Frankfurt next year, aiming to attract investor interest amid a surge in defence spending.

This move supports KNDS's long-term strategy to expand its capital market presence and fund investments in technology and industrial capacity. KNDS, formed from the merger of Krauss-Maffei Wegmann and Nexter, reported a substantial sales increase to 3.8 billion euros, with strong order intake, and could be valued up to 20 billion euros.

The IPO, expected in June or July, follows heightened military investments across Europe due to the ongoing conflict in Ukraine. CEO Jean-Paul Alary noted the focus on land systems, ruling out collaboration with Germany's Rheinmetall, while welcoming the strategic addition of Christian Schulz to its board.

(With inputs from agencies.)