European Cruise Missile Manufacturer Destinus is negotiating with investors to raise 200 million euros ($234 million) before the IPO. This is reported by foreign media.
Rothschild & Co. and UniCredit SpA are acting as consultants on the placement of shares in order to increase the value of Destinus over 5 billion euros.
In 2025, Destinus acquired the Swiss UAV manufacturing company Daedalean for 180 million Swiss francs ($230 million) and issued convertible bonds worth more than 1 billion euros.
Destinus, together with the German concern Rheinmetall, is accelerating the development of a new RUTA Block 3 missile for strikes at a range of up to 2,000 kilometers and plans to create a Rheinmetall Destinus Strike Systems joint venture to manufacture, market and supply advanced missile systems, including cruise missiles and rockets.
The Destinus funding round is in line with the general trend in the defense sector amid increased military spending in Europe. In particular, German drone manufacturer Quantum Systems is in talks with Airbus SE and Blackstone Inc. to raise $600 million, and Helsing GmbH is looking for new investors with a total market value of $18 billion.
Destinus is a European manufacturer of weapons, including long-range attack drones, barrage munitions, and interceptors.. The headquarters is located in France, although it was originally located in Switzerland. Production facilities are located in Germany (Munich), Spain (Madrid), the Netherlands (Hengelo).
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