Shares of CSG, one of the world’s fastest-growing defense firms, jump 31% on debut

Shares of Czech-based defense firm Czechoslovak Group (CSG) soared over 30% on its stock market debut on Friday, underscoring sustained investor interest in defense companies amid Europe’s growing push for military sovereignty.

CSG, one of the world’s fastest-growing defense firms, made its debut on the Euronext exchange in Amsterdam, Netherlands.

Shares traded 31.2% higher at around 12 p.m. London time (7 a.m. ET), having jumped as much as 32% earlier in the session.

The Prague-based company, which makes armed vehicles, ammunition, and advanced defense systems, raised a total of 3.8 billion euros ($4.5 billion) in its initial public offering.

Euronext said the listing marked the world’s largest defense IPO ever recorded, both in terms of amount raised and market capitalization.

“Today marks a historic milestone for CSG as we join the Euronext Amsterdam market and we welcome the confidence shown in us by investors,” Michal Strnad, chairman of CSG, said in a statement.

“Becoming a publicly listed company demonstrates our commitment to high standards of transparency, disclosure and corporate governance and strengthens our ability to invest in innovation, expand our global reach and deliver on our mission to be a critical long-term supplier of advanced defence and industrial solutions to NATO states and Government partners worldwide,” he added.

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