[https://www.reuters.com/business/finance/czech-defence-firm-csg-nears-ipo-decision-that-would-boost-ma-war-chest-2026-01-07/](https://www.reuters.com/business/finance/czech-defence-firm-csg-nears-ipo-decision-that-would-boost-ma-war-chest-2026-01-07/)
Potential IPO would likely be in Amsterdam. CSG's IPO could raise north of €3 billion ($3.5 billion) at a valuation of up to €30 billion or even more, which would put it among Europe's largest defense industry listing, positioning it as a major publicly traded defense giant, capitalizing on increased European military spending driven by the Ukraine war.
**Czechoslovak Group growth, recent years**
* **2023 vs 2022:** Revenue up **\~71%**
* **2024 vs 2023:** Revenue up **\~131%**, EBITDA up **\~146%**
* **2025 (H1):** Revenue up **\~25% year on year**