Česká Zbrojovka Weighs IPO To Fund ExpansionWilliam Malcolm
Hospodarske noviny reports that arms manufacturer Ceska zbrojovka is weighing an IPO on the Prague stock exchange.
In an interview with iHNed, President Lubomír Kovařík said the company would use the capital raised by sales of shares to support the expansion of its United States subsidiary CZ-USA.
CZ-USA is building a $90 million headquarters and factory in Little Rock, AR. The company plans to employ up to 565 people within six years. Mr. Kovařík said the company is preparing to compete for U.S. defence contracts.
No details on the prospective IPO such as timing or size were provided.
Ceska zbrojovka, founded in 1919 is among the ten largest firearms manufacturers in the world, employing over 1800 people.