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Czech-based defence firm Czechoslovak Group (CSG) is offering up to 15.2% of the company in an initial public offering of new and existing shares, giving it a market capitalisation of 25 billion euros
($29.19 billion), CSG said in its prospectus on Tuesday.

The offer price is 25 euros per share, according to the prospectus. The offering consists of 30 million new shares and up to 122 million existing shares including an over-allotment, which are held by CSG’s owner, Czech billionaire Michal Strnad.

CSG, one of the world’s fastest-growing defence firms, announced its intention to float shares in Amsterdam last week, and the IPO is likely to become the largest global defence listing by funds raised.

Assuming the over-allotment is exercised, Strnad is set to earn net proceeds of nearly 3 billion euros from the deal, and the company a net 724 million euros, according to the prospectus.

Trading in the shares is expected to start on Friday, according to the timeline in the prospectus.