KNDS, Europe's biggest land-defence group, has postponed its planned Frankfurt and Paris listing, blaming a slump in defence shares. Its €33.1bn order backlog — which includes the Jaguar and Griffon vehicles bound for the Luxembourg army — is unaffected.
SK Hynix has filed to raise up to about $29bn through a Nasdaq listing of American depositary shares, a deal that would rank among the largest equity offerings on record and stands as a marquee bet on the AI-driven memory boom.
France and Germany have agreed to co-own armoured-vehicle maker KNDS as equal shareholders, ending a long-running governance dispute and opening the way to one of Europe's largest defence listings. Germany will buy a 40% stake from the company's German family owners, with a dual Frankfurt-Paris flotation targeted for July as EU rearmament spending accelerates.