The securities of Primoco UAV SE, unmanned aircraft manufacturer, will be introduced to trading on the main market of the Prague Stock Exchange on Monday, January 29, 2024. Alongside other securities such as ČEZ, Erste Group Bank or Komerční banka, last year's most successful Prague Stock Exchange name will join the premier group of Czech companies after completing the final phase of preparations - from the approval of the prospectus by the Czech National Bank to the transition to financial reporting under IFRS.
After more than five years since entering the START market for small and medium-sized enterprises, Primoco UAV SE will move to the Prime Market of the Prague Stock Exchange on 29 January 2024. Ladislav Semetkovský, the founder and CEO of the company that is focused on the production of unmanned aircraft and the provision of aerial work, expects that the transition to the Prime Market, in addition to the prestige, will increase interest in the shares, which were the best performing in the Prague market last year. “On the START market, we have gradually become known to most Czech investors and have reached a market capitalization approaching five billion CZK. Prime Market now puts us in the sphere of the largest publicly traded companies in the Czech Republic and opens our shares to more of the world, which will help us continue to dynamically increase the value of the company,” Semetkovský says.
“The transfer of a company from the unregulated market to the Prime Market is a significant event for the stock exchange. We traded on the START market with the vision that it would become a gateway to the capital market for smaller companies and ideally an intermediate step on their way to the world of international investors active in the Prime market. Primoco has come a long way since it went public. This is a cutting-edge technology company that will represent the Czech Republic well and I firmly believe that it will find its way into the portfolios of many foreign investors,” says Petr Koblic, CEO of the Prague Stock Exchange.
Primoco UAV’s share price more than doubled on the Prague Stock Exchange last year after the company began to significantly increase sales, revenues and profits. In connection with the announcement of record preliminary financial results for last year, the share price has appreciated by more than 12% since the beginning of 2024 and has approached CZK 1,000 per share. In November 2018, the subscription price per share was CZK 250. For 2024, management expects further significant growth in key performance indicators.
