Czech arms manufacturer wants to list on Amsterdam stock exchange

According to analyst Lukáš Kovanda, the Czech arms manufacturer Czechoslovak Group (CSG) plans to list on the Amsterdam stock exchange on Friday, with the aim of raising up to €3.3 billion in capital. If investor interest is strong, the amount could rise to €3.8 billion, which would make this the largest IPO in the history of the arms industry.

The company has set a fixed share price of €25, without an auction or price range. In the base scenario, it plans to raise €2.55 billion from the sale of existing shares. It will add new shares worth €750 million to this. If demand is strong, it is prepared to offer additional shares worth €496 million.

CSG is targeting a market capitalization of €25 billion, which would make it the second most valuable Czech listed company after ČEZ (electricity producer).

The group is rapidly entering the market at a time of historic growth in defense stocks, supported by geopolitical challenges and the policies of US President Donald Trump. Major investors such as BlackRock, Artisan Partners, and the Qatari sovereign wealth fund have already expressed interest, provisionally reserving shares worth €900 million.

(max)