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 30% higher at 32.5 euros ($38.2) at 12:21 p.m. London time (7:21 a.m. ET), having jumped as much as 32% earlier in the session. The upswing implies a market capitalization of roughly 32.5 billion euros.
The Prague-based company, which makes armed vehicles, ammunition, and advanced defense systems, raised a total of 3.8 billion euros 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.
