European Tankmaker KNDS Selects Banks for Blockbuster IPO

KNDS NV has selected banks for an initial public offering, people familiar with the matter said, as the Franco-German tankmaker rushes ahead with a listing to tap huge investor demand for defense stocks.

Amsterdam-based KNDS has picked Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc. and Societe Generale SA as global coordinators to lead the IPO, according to the people. It’s aiming to list in Frankfurt and Paris as soon as June or July, they said, well ahead of the French presidential election in 2027. France’s government holds a significant stake in the company.