Published by Global Banking & Finance Review®
Posted on January 7, 2026
2 min readLast updated: January 20, 2026
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Czech defence firm CSG may launch an Amsterdam IPO next week, aiming to raise over 3 billion euros, amid strong investor interest in defence stocks.
By Charlie Conchie, Elvira Pollina and Jan Lopatka
PRAGUE/LONDON/MILAN, Jan 7 (Reuters) - Czech defence firm CSG could launch the process for its initial public offering in Amsterdam as soon as next week, kicking off what would be the first large European listing of 2026, two people familiar with the matter told Reuters.
The Prague-headquartered ammunition and armoured vehicle manufacturer is weighing whether to file its intention to float on the Euronext Amsterdam as soon as next week, in a deal that could raise north of 3 billion euros ($3.51 billion), the people said, asking to remain anonymous as the information is not public.
The people cautioned that the company will weigh whether market conditions are right before pressing ahead with any decision.
CSG declined to comment.
CSG, Europe's fastest-growing defence firm in terms of annual revenue growth, is considering listing 15% of its shares in the deal, owner and Chair Michal Strnad told Reuters earlier this week, adding that no final decision has been made.
The deal comes amid strong investor interest in defence stocks and a wave of spending commitments from NATO countries following Russia's invasion of Ukraine and conflict in the Middle East. Other European defence companies including Franco-German tank maker KNDS are also exploring listing this year.
Strnad declined to comment on how much CSG could raise in any IPO or at what valuation when asked by Reuters this week, but cited defence giant Rheinmetall <RHMG.DE>, as a guide, though he expected some discount versus the German peer.
($1 = 0.8557 euros)
(Reporting by Charlie Conchie in London, Elvira Pollina in Milan and Jan Lopatka in Prague. Additional reporting Amy - Jo Crowley. Editing by Anousha Sakoui, Adam Jourdan and Nick Zieminski)
An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
Market capitalisation is the total market value of a company's outstanding shares, calculated by multiplying the share price by the total number of shares.
Equity investment involves purchasing shares in a company, providing capital in exchange for ownership and a claim on future profits.
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