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.

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.