BERLIN, March 19 (Reuters) - KNDS CEO Jean-Paul Alary said the tank maker remains on track for a planned stock market listing this year despite political debate about the German government taking a
Listing of German tank maker KNDS on track, says CEO
KNDS Stock Market Listing Plans and Developments
BERLIN, March 19 (Reuters) - KNDS CEO Jean-Paul Alary said the tank maker remains on track for a planned stock market listing this year despite political debate about the German government taking a stake in the company.
Timeline and Market Conditions
"There are no obstacles," Alary told reporters late on Wednesday, adding that the listing would go ahead as planned some time in 2026 if market conditions allow. He declined to give a precise date.
Expected Listing Details
Dual Listing and Valuation
Bankers expect a multibillion-euro dual listing in Paris and Frankfurt – which could value KNDS at around 20 billion euros ($22.9 billion) – in June or July, with roughly 25% of shares to be floated.
Capital Raising and Investment Plans
Alary signalled that KNDS aims to raise fresh capital alongside a sale of existing shares.
Use of Additional Capital
"We can use this additional capital for investments" and potential acquisitions, he said, while reiterating that the group will stay focused on land systems.
Uncertainties and Stakeholder Positions
IPO Structure and Stake Acquisition
A KNDS spokesperson said, however, that no decision had yet been made regarding the structure of the stock market debut.
Alary dismissed suggestions that rival Rheinmetall might use the IPO to build a stake, saying he saw no strategic value in such a move.
Ownership Structure and Government Involvement
KNDS, formed from Germany's Krauss-Maffei Wegmann and France's Nexter, is jointly owned by the French state and Germany's Bode family. Berlin aims to acquire a blocking minority of at least 25%, though the timing remains open, according to sources.
Additional Information
($1 = 0.8724 euros)
(Reporting by Alexander Huebner, Writing by Friederike Heine and Madeline ChambersEditing by Ludwig Burger)
