Tankmaker KNDS Said to Screen Advisers for Possible Dual Listing

Franco-German tankmaker KNDS NV, which supplies machinery used in the war in Ukraine, is sounding out financial advisers to help arrange a potential initial public offering as it steps up preparations for a listing, according to people familiar with the matter.

The company, owned by the German family behind Krauss-Maffei Wegmann and the French government, has invited capital markets specialists to vie for a role advising management on the possible IPO, said the people, who asked not to be named because the matter is private. KNDS may seek a valuation of around €20 billion ($23.4 billion), the people said. ...