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CSG debuts largest ever defense IPO

SUMMARY

CSG NV, an armored vehicle and munitions maker, saw its shares rise 32% to €33 in its debut on the Amsterdam exchange on Friday. This initial public offering (IPO), valued at €25 billion, marks the largest for a defense firm. Investors placed over $60 billion in orders, indicating robust demand amid rising global tensions and increased military spending in Europe.

CSG's chairman, Michal Strnad, noted high demand, leading to a fast IPO process. His fortune increased to $37 billion with this offering. The IPO underscores a significant shift in the defense sector since Russia's invasion of Ukraine. CSG expects sales exceeding €6.4 billion in 2025. The company trades under the ticker “CSG.”


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