KNDS Is Said to Start Investor Meetings for €5 Billion IPO

KNDS NV, the maker of Germany’s Leopard 2 tanks, is gauging investor interest for an initial public offering that may raise as much as €5 billion ($5.8 billion), according to people familiar with the matter, in what could be Europe’s largest first-time share sale in years.

The Netherlands-based group is kicking off preliminary meetings with prospective investors as it gears up for a potential stock market debut this summer, the people said, who asked not to be identified because the discussions are private. It’s pressing on with the plans despite the war in Iran roiling markets and a slowdown in the rally of listed defense peers.