Done: Tank manufacturer KNDS to list 20 percent on Frankfurt and Paris stock exchanges

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Done: Tank manufacturer KNDS to list 20 percent on Frankfurt and Paris stock exchanges
Photo: Stian Lysberg Solum/NTB/TT

The announcement comes after a Franco-German agreement this weekend.

KNDS, with 11,000 employees, is owned equally by the French state and the German holding company Wegmann & Co prior to the listing.

In connection with the listing, Wegmann & Co will sell a 40 percent stake in KNDS to the German state, while the French state will divest shares so that the French state's share is reduced to 40 percent.

KNDS's revenue rose 16 percent to 4.4 billion euros last year.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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