Czech weapons manufacturer CSG has debuted on the Amsterdam stock market, raising €3.8 billion in the largest initial public offering (IPO) ever recorded in the defence sector.
Okay News reports that the $4.6 billion flotation values the company at €25 billion, according to a statement from the Amsterdam exchange.
The IPO marks a historic milestone for CSG, a key supplier of ammunition and weapons to NATO countries and Ukraine.
The firm is the second largest medium- and large-calibre ammunition producer in Europe and the largest small-calibre ammunition producer globally by sales.
Nearly 70 per cent of its sales come from NATO countries, positioning it to benefit as the alliance ramps up weapons and ammunition production to counter threats from Russia.
At a summit in The Hague last year, NATO countries committed to boosting defence spending to five per cent of output by 2035.
CSG sells in more than 70 countries worldwide and employs 14,000 staff.
Founded in the Czech Republic, the company also operates factories in India, Italy, Serbia, Slovakia, Spain, the United Kingdom, and the United States.
CSG chairman Michal Strnad, 33, described the IPO as a “historic milestone.”
“We are proud of the combination of our Czech industrial heritage and our global manufacturing footprint,” Strnad said.
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