The tank manufacturer KNDS plans to proceed with its IPO without making it dependent on a decision from the federal government. CEO Jean-Paul Alary stated in a press release that preparations for the IPO will continue according to the original schedule. The company is also examining the earliest possible time frame for this step.
Several media outlets, including Manager Magazin and Welt, reported that the federal government had asked the owners of KNDS to postpone the IPO, originally planned for before the summer break, to the autumn. Despite this request, KNDS apparently intends to stick to its plans.
The background is that the federal government is running out of time to acquire a stake of 30 to 40 percent in the company. Just recently, the secretaries of state in the Defense and Economic Ministries signaled their interest in taking a stake.
“KNDS would certainly welcome a possible participation of the federal government in the shareholder circle,” Alary explained. Nevertheless, the focus remains on the careful preparation of the IPO in the best interest of the company and its stakeholders.
