Germany Believes KNDS Will Resume IPO Following Temporary Pause in Plans
German Government's Position on KNDS IPO Suspension
BERLIN, July 3 (Reuters) - The German government assumes that Franco-German defence group KNDS will still consider a stock market listing, said a spokesperson in Berlin on Friday, after the company put plans on hold this week, citing the need for better market conditions.
Official Statements from Government Spokespersons
"The federal government respects the decision to pause the IPO but remains interested in working with its French partners to lead the company into a successful future," said the spokesperson.
Key Points and Stakeholder Agreements
The German government had established key points, together with France and German shareholders, for taking a stake in the company that were based on expectations for a successful IPO, the spokesperson added.
Security Interests and Continued Commitment
Germany will continue to stand by its agreement to acquire a 40% stake because KNDS is of great importance to the country's security interests, added an economy ministry spokesperson at the same press conference.
KNDS's IPO Plans and Market Conditions
KNDS shelved what would have been one of Europe's largest defence IPOs in recent years on Wednesday, saying it would resume the process as soon as market conditions allow.
Reporting Credits
(Reporting by Andreas Rinke, Writing by Miranda Murray, Editing by Linda Pasquini)
