Investors have only one week to purchase new shares of drone manufacturer Primoco UAV. The funds from the share issue will push the Czech company forward in fulfilling its extraordinary growth potential.

Investors have until May 17 to participate in the subscription of new shares of the Czech unmanned aerial vehicle manufacturer Primoco UAV. Traded on the Prague Stock Exchange START market, the company aims to raise up to 170 million crowns to accelerate the company’s development. In the first round, only existing shareholders were allowed to take up the share offer under their pre-emptive rights. Now, the subscription is open to any investor. The price range in the second round was set at 260 to 360 crowns per share, while the current Primoco UAV share price on the START market is 358 crowns. This corresponds to an appreciation of 49% since the beginning of this year.

To date, investors have subscribed for 42% of the entire issue, through which Primoco UAV is offering up to 655,300 new shares. According to the issue prospectus approved by the Czech National Bank, this corresponds to more than 13% of the company’s share capital once the subscription is completed. The net total proceeds of the issue, which may reach up to 170 million crowns, will be used by Primoco UAV, for example, to expand its own Písek – Krašovice airport and raise production capacity associated with an influx of client orders for the One 150 UAV. The capital obtained from the subscription of new shares will be used to finance the development of new technologies.

“Interest in drones is growing around the world. Not only used by rescue, security and defence forces, many industrial companies, for example, use the UAVs to monitor product pipelines or transmission systems. Our machines are world class and top in their category, which means interesting growth potential for medium-term investors. The new share issue will let us take full advantage of this opportunity,” says Ladislav Semetkovský, founder, director and majority shareholder of Primoco UAV, adding that the company is now negotiating the sale of a total of 233 drones for 40 customers worldwide.

The new Primoco UAV share subscription will be issued on the Prague Stock Exchange START market in two rounds. The first round, available only to existing shareholders under their pre-emptive right, ended on 2 May. The second round of subscriptions is now open until 17 May and is open to any investor. In the second round, the issue rules allow the issuer to publish information about progress of the subscription.

Interested investors can purchase Primoco UAV shares through the company’s securities dealers, such as Patria Finance, Fio Banka, and Komerční banka, which are all members of the Prague Stock Exchange. These dealers generally accept investment instructions and orders in person at branches or by telephone.

About Primoco UAV SE

Czech company Primoco UAV is a manufacturer of civil and military unmanned aerial vehicles. Fully developed by the company itself, the One 150 UAV is capable of completely autonomous flight according to pre-programmed flight plans, including fully automated take-off and landing. The aircraft features exceptional endurance, allowing it to spend up to 15 hours in the air at a cruising speed of 100-150 km/h without interruption, representing a range of up to 2000 km. With a maximum take-off weight of 150 kg and payload of 30 kg, the One 150 UAV can be deployed for numerous uses in civilian and military operations. The company’s aircraft are currently employed across three continents in a range of services, including inspections of product pipelines and energy sector distribution networks, surveillance activities for border and coastal security, fire monitoring, and search and rescue operations. Primoco UAV’s current production capacity is 50 drones per year. To date, the company has produced 70 unmanned machines at its plant in Radotín, Prague. Primoco UAV is currently negotiating the sale of 233 drones for 40 customers worldwide. Primoco UAV is a publicly traded company on the Prague Stock Exchange START market.

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