Armaments company KNDS helps transmission manufacturer Renk go public. Tank builder and major customer KNDS is to come on board as an anchor shareholder.
Renk is valued at around 1.5 billion euros, 30 percent of the securities would come into new hands. The shares are scheduled to be traded on the Frankfurt Stock Exchange for the first time on Wednesday. The owner of Renk, the financial investor Triton, wants to raise a total of 450 million euros, as the company announced on Monday.