NASDAQ:TDS 15 January 2026

July 2, 2026, 6:44 AM EDT. KNDS, the French-German defense company, has put its IPO on hold, saying the European defense market has been too volatile. Most of the prep for Paris and Frankfurt was done, but shareholders want better market conditions before moving ahead. The pause comes after Rheinmetall lost 13% and Czechoslovak Group (CSG) fell 17% in the past month, though both have come up off their lows. CSG is still down about 44% since its IPO in January, wiping more than €11 billion from its market cap. KNDS is targeting a 20% float for institutional buyers, while French and German states plan to keep big stakes. The firm says it's still focused on its long-term European defense growth and pushing its military tech pipeline.