CSG offers shares worth €3.3bn on Amsterdam exchange

The Czechoslovak Group (CSG), owned by businessman Michal Strnad and focusing mainly on the arms industry, is offering shares worth about €3.3bn (almost CZK 80.2bn) on the Euronext stock exchange in Amsterdam, CSG said on its website.

The subscription period will run from Tuesday to Thursday, with trading scheduled to start on Friday. The shares are intended for institutional investors. The company plans to use the proceeds from the sale of shares for further development.

CSG is one of Europe's leading manufacturers of artillery ammunition. It had been expanding in this sector even before Russia's invasion of Ukraine in 2022. According to data from the Stockholm International Peace Research Institute (SIPRI), CSG is the fastest-growing European company on the global arms market in terms of annual sales growth. In the first three quarters of last year, CSG increased its revenues by 82.4 percent year on year to €4.49bn (about CZK 109bn).