Arms Supplier CSG Ushers in Wave of Defense IPOs

Defense stocks have been the hottest trade in Europe for more than a year. Now that rally is finally on the cusp of drawing some of the continent’s private arms makers onto public markets.

Leading the group is Czechoslovak Group AS, a key supplier of munitions and armed vehicles to Ukraine, that announced on Wednesday that it plans to list in Amsterdam, in what could be the largest-ever initial public offering by a defense company. Meanwhile KNDS NV, which produces Germany’s Leopard 2 tank used by Ukraine against Russia, is also considering an IPO this year.