Tank maker KNDS plans dual listing in Paris and Frankfurt in 2026

German-French tank manufacturer KNDS on Wednesday confirmed plans for an initial public offering (IPO), saying it is targeting a dual stock market listing in Paris and Frankfurt in 2026.

The Amsterdam-based company is one of Europe’s leading defence manufacturers and produces the Leopard 2 battle tank, which has been supplied to Ukraine for use against Russian forces.

KNDS was formed a decade ago through the merger of Germany's Krauss-Maffei Wegmann and French defence group Nexter.

KNDS said the IPO would support its long-term growth strategy and broaden access to capital markets. Proceeds from the listing would be used to fund new investments in production capacity, technology and innovation.

Speculation about a potential stock market flotation has circulated for months, amid increased demand for defence equipment in Europe.