Polish arms manufacturer Niewiadow PGM debuts on Warsaw main market

Niewiadow Polska Grupa Militarna SA

21/04/2026 08:08

April 21 (Reuters) - Shares of Niewiadow Polska Grupa Militarna GNSP.WA 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 fund

250 million zlotys allocated for building a robotic 155 mm ammunition factory with an annual capacity of 180,000 rounds

Remaining 60 million zlotys will fund 40 mm ammunition production

Full-scale production planned to begin in the second half of 2026

The listing transfer marks the fifth debut on Warsaw Stock Exchange's main market this year

($1 = 3.5948 zlotys)

(Reporting by Rafal Nowak in Gdansk, editing by Milla Nissi-Prussak)

((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))