The Franco-German defense company KNDS NV has attracted the investment bank Lazard Inc. as a consultant to conduct an IPO in 2026 amid growing demand for shares of defense companies. This is reported in the KNDS press release.
In September 2025, the management of the KNDS tank building company announced plans to prepare for an IPO in order to attract investments from European investors and increase the market value to 20 billion euros ($23.3 billion).
The German government is considering the possibility of acquiring KNDS shares, including a controlling stake, in order to ensure influence, taking into account the sale of shares by private German owners. Prior to the listing, KNDS should expand cooperation and technology exchange between German and French subsidiaries, taking into account the growing demand.
The proposed deal reflects an improvement in the market situation. In particular, the Czechoslovakian armored vehicle manufacturer Group AS plans to hold a 3 billion euro IPO in Amsterdam in 2026, and several defense companies and manufacturers of unmanned aerial vehicles are attracting new financing.
KNDS is a Franco—German company in the defense industry sector. The company is a manufacturer of tanks, including Leopard 2, armored vehicles, artillery systems and ammunition. KNDS was formed as part of the merger of German Krauss-Maffei Wegmann GmbH and French Nexter Systems SA in 2015 and is owned by German owners and the French government. The headquarters is located in Amsterdam (the Netherlands).
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