Arms Firm CSG Said to Weigh IPO, Seeking €30 Billion Valuation

Armored vehicle and ammunition maker Czechoslovak Group AS is considering an initial public offering, seeking a valuation of €30 billion ($34.9 billion) or more, according to people familiar with the matter, as the firm seeks to capitalize on increased defense spending from Europe’s governments.

Michal Strnad, owner of Czechoslovak Group AS

Photographer: Milan Jaros/Bloomberg

Known more commonly as CSG, the Prague-based producer of heavy ammunition and combat vehicles owned by 33-year-old billionaire Michal Strnad, is close to appointing banks to manage the share sale, the people said, who asked not to be identified as the information is private.

The company is considering going public in Amsterdam, with a ...