Czechoslovak Group (Ticker: CSG NA) is a Czech-based defence and industrial conglomerate specializing in the production of heavy ground equipment, radars, and large-calibre ammunition. Operating as a leading supplier to NATO partners and Ukraine, the company plans to list on Euronext Amsterdam on January 23, 2026. CSG intends to offer a 15.2% stake at €25.00 per share, raising €3.8 billion ($4.44 billion).

At this pricing, the company targets a market capitalization of approximately $29.19 billion (€25 billion). The offering is reportedly the largest ever in the defence sector. The majority of proceeds will go to selling shareholder and owner Michal Strnad, while the company expects to raise €750 million in new capital to be used for general corporate purposes and potential future acquisitions. Cornerstone investors include BlackRock and the Qatar Investment Authority, with the accelerated bookbuild managed by BNP Paribas and J.P. Morgan.