Polish arms manufacturer Niewiadow PGM debuts on Warsaw main market

About this update from Niewiadow Polish Military Group Joint Stock Company

Shares of Niewiadow Polska Grupa Militarna GPW:GNS opened around 5% higher at 21.5 zlotys per share on Tuesday, as the Polish arms manufacturer transferred its listing to the main market of the Warsaw bourse.The company, which produces ammunition, firearms, unmanned systems and dual-use products, said the move was meant to help secure capital for scaling up its production of 155 mm and 40 mm artillery shells.The company is in the process of developing Polish ammunition production capabilities through a 310 million zloty ($86 million) joint venture with Fidera Group's Forum 119 investment fund250 million zlotys allocated for building a robotic 155 mm ammunition factory with an annual capacity of 180,000 roundsRemaining 60 million zlotys will fund 40 mm ammunition productionFull-scale production planned to begin in the second half of 2026The listing transfer marks the fifth debut on Warsaw Stock Exchange's main market this year($1 = 3.5948 zlotys)

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