Primoco UAV, the Czech manufacturer of unmanned aircraft, plans to list on the Prague Stock Exchange
The Czech National Bank has approved a prospectus for the securities of Primoco UAV SE, the Czech manufacturer of civilian unmanned aircraft. Primoco UAV develops, manufactures and markets the unmanned aircraft model One 100/150 and the Primoco Engine 500.
Primoco UAV will offer its shares to investors through a public primary offer (IPO) on the Prague Stock Exchange Start market. The IPO will close on October 2, 2018 when the final volume and price per share of the issue will be set.
“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. We produce and sell an aircraft that does not have global competition in its size segment. We will issue an additional 15% of new shares in the company with an expected value of CZK 200 million. This will be primarily used for the construction of a new production plant with a capacity of 250 aircraft per year.”said Ladislav Semetkovský, CEO and founder of the company.
Primoco UAV is a successful development company that completed the three-year development of its unmanned aircraft last year. The aircraft has been certified by the Czech Civil Aviation Authority for unmanned flight. 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 up to 50 kg and fully automatic take-off and landing. This is particularly relevant for energy infrastructure monitoring, border and coastal protection, fire monitoring and search and rescue.
In addition, the company has developed its own Primoco Engine 500which offers better performance (50 HP), reliability and a long service life (TBO 500 hours) while maintaining compact dimensions and low weight (25 kg). This engine is used in Primoco UAV SE aircraft and is also intended for sale and installation in third-party aircraft.
On September 14, 2018, the Czech National Bank approved a prospectus for shares of Primoco UAV SE, ISIN CZ0005135970, on the basis of which a public offering of up to 722,155 book-entry shares with a nominal value of CZK 1 (EUR 0.036068530207394048692515779981966) will be made. The public offering is based on a decision of the General Meeting of the company on September 4, 2018 which decided to increase the registered capital of the company by an amount of no more than CZK 722,154 (from the current registered capital of CZK 4,092,210 to CZK 4,814,364). Shares will be available through members of the Prague Stock Exchange on the Start platform.
You can find the full text of the prospectus on the Issuer’s website http://investor.uav-stol.com.