The founder of CSG NV, which completed the biggest ever initial public offering for a pure defense company four months ago, is seeking to raise as much as €200 million ($233 million) this year to expand his industrial group.
The CSG NV logo on a digital ticker during the listing of their company at Euronext Amsterdam in Amsterdam, Netherlands, on Friday, Jan. 23, 2026. Armored vehicle and munitions maker CSG NV’s shares soared in its Amsterdam trading debut on Friday morning, after the firm and its owner raised €3.3 billion ($3.9 billion) in an initial public offering. Photographer: Lina Selg/Bloomberg
Czech billionaire Michal Strnad said investors are undervaluing his company, CSG NV, after its share price halved since he completed the largest-ever initial public offering for a pure-play defense firm.
Michal Strnad, chairman of CSG NV, during the company’s listing ceremony at Euronext Amsterdam on Jan. 23.
CSG NV rejected a report by Hunterbrook Capital as inaccurate and selective after the short seller questioned the defense supplier’s business model, sending the stock down by a record.
A flag with the CSG NV logo at Euronext Amsterdam.
Arms manufacturer CSG NV, owned by Czech billionaire Michal Strnad, said the conflict in the Middle East is creating fresh business opportunities as the company seeks to further expand into advanced defense technologies.
Rene van Vlerken, chief executive officer of Euronext Amsterdam, left, and Michal Strnad, chairman of CSG NV, second left, during the listing of CSG NV at Euronext Amsterdam in Amsterdam, Netherlands, on Friday, Jan. 23, 2026. Armored vehicle and munitions maker Czechoslovak Group is set to start trading in Amsterdam on Friday morning, after the firm and its owner raised €3.3 billion ($3.9 billion) in an initial public offering
Geopolitics has been playing havoc with initial public offerings in recent years, but bankers believe they may have now found a way to manage the chaos.
Michal Strnad, chairman of CSG NV, during the company’s listing ceremony at Euronext Amsterdam.
With CSG NV shares trading higher than its Amsterdam initial public offering price, the next listings in Europe may help turn that momentum into a revival for the continent’s equity capital markets.
A flag with the CSG NV logo during the listing of their company at Euronext Amsterdam in Amsterdam on Jan. 23.
Anmelden
