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Investing.com -- Czechoslovak Group AS, a Prague-based defense manufacturer, has expanded its banking team for a potential initial public offering that could raise €3 billion ($3.5 billion) or more, according to Bloomberg, citing people familiar with the matter.
The company, commonly known as CSG, has added Commerzbank AG, Deutsche Bank AG, Erste Group Bank AG and Morgan Stanley to work in junior roles on the potential listing, said the sources, who requested anonymity as the information is private.
This expansion of the banking team signals CSG is accelerating preparations for an IPO. The defense manufacturer, now one of Europe’s largest privately-held defense companies, has seen its business transform during the Ukraine war, with substantial growth in both revenues and earnings.
The anticipated deal size positions CSG among a growing number of companies exploring large-scale IPOs in Europe.
The sources indicated that no final decisions have been made, with discussions still in early stages. The timing and structure of the listing could change.
CSG acknowledged it was considering a potential IPO in its half-year results released earlier this month.
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