Czech defence giant plans to list on Amsterdam stock exchange
One of Europe’s biggest defence companies, Czechoslovak Group, is planning an IPO on the Amsterdam stock exchange.
The launch will take place within the coming weeks, the company said in a statement to investors on Wednesday.
Czechoslovak Group was founded in 1995 by entrepreneur Jaroslav Strnad as Excalibur Army. The name change took place 10 years ago and Strnad’s son Michal is the current chief executive.
He said last year his ambition is to turn the company into the second largest European defence manufacturer.
Nato clients
Czechoslovak Group produces armoured vehicles and munitions, as well as a wide range of defence systems. Some 68% of its income comes from Nato member states.
The company is planning to issue new shares worth €750 million, while current shareholders, including BlackRock and Al-Rayyan Holding from Qatar, have committed to an aggregate amount of €900 million, subject to the successful completion of the IPO.
The group has 39 manufacturing facilities based in the Czech Republic, India, Italy, Serbia, Slovakia, Spain, Britain and the US.
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