The offer is expected to end on October 1. The company can move the date in both directions. It can also increase the issue, its value could reach up to 4.3 billion crowns.
According to Lubomír Kovařík, Chairman of the Board of Directors of CZG, the money will be used mainly by the company for business development in the United States, where it is preparing to build a new plant in the town of Little Rock in Arkansas. The investment costs of this project can climb up to $ 50 million, in terms of 1.2 billion crowns. The remaining part of the net proceeds from the sale of shares will be used to strengthen working capital and for other general corporate purposes, including the financing of potential acquisition opportunities.
“We believe that together with investors we can play a crucial role in the expected consolidation of the small arms segment and become a key partner for the armed forces in Europe and the United States,” Kovařík said, adding that each share has a right to be paid. dividends.
In accordance with its dividend policy effective from the financial year ended 31 December 2020, the Company intends to target an annual dividend payment of 33 percent of consolidated net profit for that financial year.
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Investors have until October 1 to submit their bids. After the completion of the offer, the total number of shares of the company will reach up to 36,749,638 shares, while approximately one third of them will be traded.
The CZG Group operates in 90 markets worldwide. It employs about 1,625 people in the plants in the Czech Republic and the USA. It manufactures pistols, submachine guns, assault rifles or rifles. The group also controls the Uherské Brod armory of the same name.
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