German Defense Supplier Renk Weighs IPO, Private Sale
Employees work at a ship gear at a Renk facility in Augsburg, Germany.
Photographer: Christof Stache/AFP/Getty Images
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Renk GmbH is advancing plans to raise capital — possibly through an initial public offering or private share sale — as the military gearbox maker looks to expand amid Germany’s pledge to increase defense spending in the coming years.
Chief Executive Officer Susanne Wiegand, speaking Tuesday at an event in Munich, said the board is currently weighing a range of options to finance growth and does not want to do it with debt. Wiegand indicated that she would prefer an IPO, but said more analysis is still needed.