Czechoslovak Group becomes Czech Republic’s most valuable company

Czech defense company Czechoslovak Group (CSG), owned by entrepreneur Michal Strnad, entered the main market of the Amsterdam stock exchange on Wednesday. Its shares rose by about 30 percent in early trading, climbing above 32 euros.

Following the surge, the company’s market capitalization exceeded that of energy utility ČEZ by more than 100 billion crowns, making CSG the company with the largest market capitalization in the Czech Republic.

CSG is offering shares worth approximately 80 billion crowns on the Amsterdam exchange.