PRAGUE: Armored vehicle and ammunitions maker Czechoslovak Group or CSG has announced plans to go public in Amsterdam, in what could be the largest-ever defence initial public offering (IPO).
The Prague-based defence company is planning to sell €750mil of new shares and a shareholder will sell additional existing shares in the deal, according to the statement.
The total offering could raise €3bil or more, sources said previously. It would be the largest ever defence industry IPO if it raises that much, according to data compiled by Bloomberg. The listing comes as defence stocks have soared since early last year, when European governments announced commitments to increase their spending on security in the wake of Russia’s invasion of Ukraine. — Bloomberg
