US EditionCzech Arms Maker CSG Soars on Trading Debut to Hit $35 Billion Valuation
- On Jan. 23, 2026, Czechoslovak Group debuted on Euronext Amsterdam, with shares soaring over 30%, trading 31.2% higher by around 12 p.m. London time after jumping as much as 32%.
- Seeking acquisition currency and growth, CSG listed because Michael Strnad said one reason was to use stock as potential acquisition currency this month, with order books quickly covered on Tuesday and cornerstone commitments of 300 million euros each from Artisan Partners, BlackRock, and Al-Rayyan Holdings.
- The IPO comprised 30 million new shares and up to 122 million existing shares at �25 each, raising up to �3.8 billion, with Michael Strnad netting just under �3 billion.
- By mid-morning, CSG's market value had climbed to �31.6 billion with shares at �31.60, up 26.4%, surpassing Czech utility CEZ as Franco-German tankmaker KNDS prepares to list this year.
- With defence stocks at record highs this year, Euronext described CSG's listing as the world's largest defence IPO, highlighting Ukraine as a key customer.
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39 Articles
Czech CSG owner Michal Strnad has always avoided the public, creating one of the most important armament companies in Europe. On Friday she went public in Amsterdam.
Michal Strnad's wealth increased to $37 billion, or about 10 percent of the Czech economy, after the stock of the defense magnate's arms company and millionaire went up in their stock debut.The 33-year-old owner of Czechoslovak Group AS, based in Prague, practically doubled his fortune overnight, after the stock skyrocketed 28 percent at 9:00 in Amsterdam. The firm and its owner raised €3.3 billion in an initial public bid (OPI) to €25 per share.
The IPO of CSG in Amsterdam is the world's largest pure armaments company – to the delight of the owner and richest man in the Czech Republic. However, this causes trouble on the stock exchange in the home country.
The IPO of the Czech armaments company Czechoslovak Group (CSG) is a success – and a signal. Investors rely on ammunition, tanks and artillery. A peace in Ukraine is still a long way away on the stock exchange. However, regardless of the Ukraine war, CSG has bright prospects.
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