CZECHOSLOVAK GROUP announces admission to trading on Euronext Amsterdam
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
CSG N.V.
CZECHOSLOVAK GROUP announces admission to trading on Euronext Amsterdam
- Successful completion of IPO with total gross proceeds of €3,800 million (assuming full exercise of the Over-Allotment Option), representing 15.20% of the Company’s issued share capital
- Offering consists of the issuance of €750 million new shares, secondary offer of €2,554 million by the Selling Shareholder and an Over-allotment Option of up to €496 million
- IPO values CSG at €25.0 billion at the final offer price
- Market opening ceremony undertaken at Euronext Amsterdam to mark admission and first day of trading
Amsterdam and Prague, 23 January 2026 – CZECHOSLOVAK GROUP a.s. (“CSG” or the “Group”), a leading defence group based in Prague, Czech Republic, operating in Europe, the United States and in other regions including Asia Pacific, today announces the admission of ordinary shares of CSG N.V. (the "Company ") to listing and trading on the regulated market of Euronext Amsterdam, operated by Euronext Amsterdam N.V. (“Admission”).
The admission follows the successful completion of the Company’s initial public offering (“IPO”) of ordinary shares with total gross proceeds of €3,800 million (assuming full exercise of the Over-Allotment Option), representing 15.20% of the Company’s issued share capital immediately following Settlement. This comprised a primary offering of newly issued shares raising €750 million, a secondary offering of existing shares totalling €2,554 million by CSG FIN a.s. (the "Selling Shareholder ") and an over-allotment option representing a maximum amount of c. €496 million (the "Over-Allotment Option ").
The IPO attracted strong demand from leading global institutional investors, with cornerstone commitments totalling €900 million from Artisan Partners, certain funds and accounts under the management of BlackRock and Al-Rayyan Holding LLC (a wholly owned subsidiary of Qatar Investment Authority), subject to customary conditions.
The IPO values CSG at €25.0 billion at the final offer price, with the intention to use the net proceeds from the primary component for general corporate purposes.
To mark the first day of trading on Euronext Amsterdam, Chairman Michal Strnad and members of CSG’s executive team participated in the traditional gong ceremony at Beursplein 5, marking the Company’s transition to a publicly listed entity.
Michal Strnad, Chairman, comments:
“Today marks a historic milestone for CSG as we join the Euronext Amsterdam market and we welcome the confidence shown in us by investors. Our successful listing is a testament to the hard work, dedication and ingenuity of our people, and to the trust our customers and partners place in us. 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. We are proud of the combination of our Czech industrial heritage and our global manufacturing footprint, and we look forward to creating long-term value for all our stakeholders in the years ahead.”
CSG N.V.’s shares are traded on the regulated market of Euronext Amsterdam under the Ticker Symbol “CSG”. The International Security Identification Number (ISIN) is NL0015073TS8.
Ends
Media and Investor Contacts
CZECHOSLOVAK GROUPmedia relations:
Tomáš Kotera, Director of Communications
tomas.kotera@czechoslovakgroup.com
Andrej Čírtek, Spokesperson
+420 602 494 208
andrej.cirtek@czechoslovakgroup.com
CZECHOSLOVAK GROUPinvestor relations:
Zdeněk Jurák, Chief Financial Officer (CFO)
zdenek.jurak@czechoslovakgroup.com
Peter Russell, Head of Investor Relations
peter.russell@czechoslovakgroup.com
FGS Global:
Charlie Chichester / Richard Webster-Smith / Frank Jansen
+44 (0)207 251 3801 / +31 6 21542369
csg@fgsglobal.com
About CSG
CSG N.V. (“CSG”) is a Dutch company and a leading European defence group, with its principal management headquarters located in Prague, Czech Republic.
CSG develops and supplies defence and industrial technologies that contribute to a safer and more stable future.
CSG focuses on the development and production of strategically important products, systems, and technologies across the defence and ammunition sectors and other related industries, such as aerospace.
The Group operates key manufacturing facilities in the United States, the United Kingdom, Spain, Italy, Germany, the Czech Republic, Slovakia, Serbia and India, and exports its products worldwide. CSG continues to invest in the growth of its portfolio companies and the expansion of its core business activities.
Key members of the Group include Excalibur Army (Czech Republic, land systems), Tatra Trucks (Czech Republic, vehicles), MSM Group (Slovakia, artillery ammunition) and The Kinetic Group (United States, small-calibre ammunition).
CSG employs more than 14,000 people across its integrated and affiliated companies. In 2024, the Group’s annual reported revenues amounted to EUR 4.0 billion.
CSG is traded on Euronext Amsterdam under the symbol CSG.
For more information, visit: https://czechoslovakgroup.com/en
Disclaimer
These materials are not for release, distribution or publication, whether directly or indirectly and whether in whole or in part, in or into the United States, Canada, Australia or Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, or Japan. This announcement does not constitute a prospectus or form part of any offer to sell or issue, or any invitation or solicitation of an offer to buy, Offer Shares to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful, including the United States of America (including its territories or possessions or any State of the United States and the District of Columbia, Australia, Canada, or Japan.
The Offer Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or the laws of any state of the United States. The Offer Shares may not be offered, sold or otherwise transferred in the United States, except to qualified institutional buyers (“QIBs”) as defined in, and in reliance on, Rule 144A under the Securities Act (“Rule 144A”) or pursuant to another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company has no intention to register any part of the offering in the United States, or make a public offering of securities in the United States.
In the United Kingdom, this announcement is being distributed only to, and is directed only at, persons who are “qualified investors” within the meaning of paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024, and who: (A) are “investment professionals” specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) (B) fall within Article 49(2)(a) to (d) of the Order (and only where the conditions contained in those Articles have been, or will at the relevant time be, satisfied); ; and/or (C) are persons to whom it may otherwise lawfully be communicated (all such persons being “relevant persons”).
In the European Economic Area (the “EEA”), this announcement is addressed only to and directed only at, persons in member states who are “qualified investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (“Qualified Investors”).
This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors, and will be engaged in only with such persons.
This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Group’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group’s business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date they are made.
In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur or the Company’s or the Group’s actual results, performance or achievements might be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. BNP PARIBAS, Jefferies GmbH, J.P. Morgan SE, UniCredit Bank GmbH, Milan Branch, Česká spořitelna, a.s., COMMERZBANK Aktiengesellschaft, Deutsche Bank Aktiengesellschaft and Morgan Stanley Europe SE (together, the "Underwriters "), the Company or any member of the Group, or any of such person’s affiliates or their respective directors, officers, employees, agents or advisers expressly disclaim any obligation or undertaking to update, review or revise any such forward-looking statement or any other information contained in this announcement, whether as a result of new information, future developments or otherwise, except to the extent required by applicable law.
Any subscription or purchase of Offer Shares should be made solely on the basis of information contained in the Prospectus dated 20 January, 2026 (the “Prospectus”). The information in this announcement is subject to change. Before subscribing for or purchasing any Offer Shares, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. Neither this announcement, nor anything contained in the Prospectus, shall constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to acquire, whether by subscription or purchase, any Offer Shares or any other securities, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.
Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making investments should consult an authorised person specialising in advising on such investments. Neither this announcement, nor the Prospectus, constitutes a recommendation concerning a possible offer. The value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of a possible offer for the person concerned.
Nothing contained herein constitutes or should be construed as (i) investment, tax, accounting or legal advice, (ii) a representation that any investment or strategy is suitable or appropriate to your individual circumstances or (iii) a personal recommendation to you.
In connection with the Offering, the Underwriters or any of their respective affiliates acting as an investor for their own account may take up as a proprietary position any securities mentioned in this announcement and in that capacity may retain, purchase or sell for their own account such securities. In addition, they may enter into financing arrangements and swaps with investors in connection with which they may from time to time acquire, hold or dispose of such securities. They do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so.
The Underwriters are acting exclusively for the Group and no one else, and they will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than the Group for providing the protections afforded to their respective clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.
None of the Underwriters or any of their respective affiliates or any of their or their affiliates’ directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, the Group or its associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith.
Certain data in this announcement, including financial, statistical, and operating information has been rounded. As a result of the rounding, the totals of data presented in this announcement may vary slightly from the actual arithmetic totals of such data. Percentages in tables may have been rounded and accordingly may not add up to 100%.
For the avoidance of doubt, the contents of the Group’s website or any website directly or indirectly linked to the Group’s website, are not incorporated by reference into, and do not form part of, this announcement.
Information to Distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ( "MiFID II "); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements "), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer " (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Offer Shares have been subject to a product approval process, which has determined that such Offer Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment "). Notwithstanding the Target Market Assessment, "distributors " (for the purposes of the MiFID II Product Governance Requirements) should note that: the price of the Offer Shares may decline and investors could lose all or part of their investment; the Offer Shares offer no guaranteed income and no capital protection; and an investment in the Offer Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Underwriters will only procure investors who meet the criteria of professional clients and eligible counterparties.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Offer Shares.
Each distributor is responsible for undertaking its own target market assessment in respect of the Offer Shares and determining appropriate distribution channels
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