#GoldandSilverHitNewHighs

Barut smell in European IPOs

CSG, a major supplier to the Ukrainian army, is overcoming political obstacles to initiate its IPO process. Acquiring US ammunition manufacturer Kinetic, CSG aims to list on the Amsterdam Stock Exchange.

Czechoslovak Group (CSG), one of Europe's largest ammunition producers, is leveraging the increasing investor interest in the defense industry to launch a historic IPO. According to the Financial Times, the Prague-based company is preparing to make an official announcement to be listed on the Amsterdam Stock Exchange. The group is expected to issue approximately 15% of its shares to the public, aiming for a valuation of around 30 billion euros, making it one of Europe's most valuable defense industry companies.

Critical supplier on the Ukraine front

Led by Michal Strnad, who took over management from his father, CSG is among the most important suppliers to the Ukrainian army. The company plays a critical intermediary role in providing artillery ammunition to Kiev through an international initiative led by Prague, in addition to direct production. On the political front, Czech Prime Minister-elect Andrej Babiš, who will soon assume office, has stepped back from his earlier threat to halt ammunition shipments during the election campaign. Babiš agreed to continue coordinating Prague’s initiative on the condition that Czech funds are not used, thus safeguarding the company's strategic position.