Renk GmbH (Ticker: R3NK GR) is a defense company specializing in the production of tank gearboxes. The company is based in Germany and has announced its initial public offering on the Xetra exchange. RENK GmbH plans to list on February 7, 2024, and is expected to raise EUR 352.5 million from the offering. The price range for the IPO has been set at EUR 15.00 per share, with a total of 23.5 million shares offered, supplemented by a greenshoe option of 3.53 million shares, bringing the total to approximately 26.96 million shares if the option is exercised. The offering is managed by a consortium of banks including Citibank Athens, Commerzbank AG, Deutsche Bank AG London, GS Kostakopoulos & Associates, JP Morgan, Kepler Cheuvreux, LBBW Securities LLC, and UniCredit Bank AG/Greece.

The listing values Renk at EUR 1.5 billion, allowing private equity owner Triton to raise EUR 450 million. Significant support for the IPO comes from two anchor investors: KNDS, a key client and manufacturer of the Leopard 2 tank, and Wellington Management, an investment firm heavily invested in defense stocks.