Primoco UAV offered its shares to investors through a public primary offering (IPO) on the Prague Stock Exchange within the Start initiative. The public offering ended on October 2, 2018 at 12:00 o’clock. Investors subscribed for a total of 252,500 new shares, representing 6% of the company’s capital. The market capitalization is CZK 1,086,177,500.
“For Primoco, this is a very important moment in our history. We have been able to develop, test, certify and successfully start selling our aircraft worldwide. I would like to thank investors for their trust and I am looking forward to the future growth of the company,” said Ladislav Semetkovský, CEO and founder of the company.
Primoco UAV is a successful development company that completed its three-year development of the aircraft last year and was certified by the Civil Aviation Authority as an unmanned aircraft. The civilian Primoco UAV model One 100/150 is capable of flying completely independently according to programmed flight plans. The key features of the aircraft are its size, maximum take-off weight of 100/150 kg, 10 hours endurance, 1 500 km range, cruising speed of 100-150 km/h, payload of 50 kg and fully automatic take-off and landing. The company targets the aircraft at applications in energy, border and coastal protection, fire monitoring and life-saving search and rescue.