Franco-German defence firm KNDS pushing IPO despite tank delays [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Yahoo! Finance
still planning an initial public offering (IPO) even though there have been delays developing its MGCS main battle tank, chief executive Jean-Paul Alary said in Munich on Thursday. Sven Hoppe/dpa The Franco-German defence contractor KNDS is still planning an initial public offering (IPO) even though there have been delays developing its MGCS main battle tank, chief executive Jean-Paul Alary said in Munich on Thursday. "Preparations are on schedule and the IPO is planned for 2026," Alary said, though he did not provide a date. The IPO is being planned independently of the major MGCS project, he said. "There is no connection." The Main Ground Combat System tank or MGCS is intended to succeed the Leopard 2, the main battle tank used by several European countries. However, the project is behind schedule - presumably due to political wrangling behind the scenes - with the current target now set for 2045. Because of the delay, a few months ago the Federal Cartel Office said KNDS a
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