Czech Arms Billionaire Comes Out Fighting After Share Drop

Czech billionaire Michal Strnad said investors are undervaluing his company, CSG NV, after its share price halved since he completed the largest-ever initial public offering for a pure-play defense firm.

In his first comments since the media arm of short-seller Hunterbrook issued a report on CSG last week that sank the company’s shares, Strnad said questions raised about production capacity were “total nonsense.”