Arms manufacturer CZG considering share sales to fund expansion into United States
Česká zbrojovka Group (CZG) is considering selling some of its shares on the Prague Stock Exchange in order to raise funds for an expansion in the United States, where it is planning to construct a factory, the small arms manufacturer announced in a press release on Monday. It would be the first time in 12 years that the company’s shares are sold in Prague. However, the business also stresses that, at this time, it is only one of the courses of action it is considering and did not disclose the other options.
Last year, CZG announced its plans to build a manufacturing and distribution centre in Little Rock, the capital of the State of Arkansas. The company hopes not only to expand on the American private market, but sell to American federal security services, according to the press release.