Prague-headquartered regional machinery and weaponry conglomerate Czechoslovak Group (CSG) is to make a trading debut on Amsterdam bourse on January 23, Bloomberg reported.

CSG AS “is considering setting a price in an accelerated initial public offering [IPO] that would value the company at about €25bn,” the international news agency wrote, referring to people familiar with the matter.

Accepting of offers could begin already on January 20 and end on January 22, Bloomberg also reported, noting that the three day span for an IPO of this size is unusual.

Main investors Artisan Partners, Black Rock and Qatar Investment Authority have committed to €900mn already.

As bne IntelliNews reported last week, CSG has already confirmed plans to launch an initial public offering (IPO) plan in Amsterdam.

“We think that a CSG company IPO would further raise the awareness of the group in the international investment community and offer additional financial flexibility and diversification of financing sources to support further growth,” CSG’s CEO Michal Strnad stated in a press release shared by the Czech Press Agency (CTK).

Reports of an upcoming CSG IPO have been appearing regularly in recent months with Amsterdam and the local Prague Stock Exchange market as the two most likely destinations.

Earlier this month, Strnad told Reuters that the final destination and the size of emission depends on many factors, but said he was “listening to them carefully and forming my own opinion”. BNP Paribas, JPMorgan and UniCredit were reported to be advising CSG on the listing.

After it is turned into a joint-stock company, CSG B.V. will have five board executives, including Strnad, CSG CEO David Chour, CSG head of acquisitions Petr Formánek, CFO Zdeněk Jurák and head lawyer Ladislav Štorek.

Additional non-executive board members are set to include former Nato representative John Nicholson, former Lagardére and Airbus manager Virgine Banet and Susanne Wiegand, supervisory board member at Volkswagen AG Susanne Wiegand, and former CEO at SVG Capital plc Lynn Fordham. 

As bne IntelliNews reported last month, CSG registered a rise in revenue of 82.4% y/y in the first three quarters of 2025.

CSG also registered the steepest percentage increase in arms sales revenues on the list of 100 largest arms-producing companies worldwide compiled by the Stockholm International Peace Research Institute (SIPRI).

CSG revenues rose by 193% year-on-year in 2024 to $3.6bn (€3.1bn) SIPRI highlighted, noting that “the company attributes the majority of its revenue to Ukraine”, and that CSG “benefited from the Czech Ammunition Initiative, Czech government-led project to source artillery shells for Ukraine.”