Czech Drone Maker Primoco UAV Eyes Stock Exchange Listing
The sky is the limit for Czech unmanned aircraft developer Primoco UAV SE, who have announced their intention to list on the Prague Stock Exchange.
As part of the lead up to their announcement this week, the company, which develops, manufactures and sells the civilian drone, released an official presentation on Youtube video.
They want to showcase their Primoco UAV model One 100/150 and the Primoco Engine 500, which are mid-sized UAVs designed to fly up to 1,500km in a 10 hour flight. Composed of high tech materials and cutting edge electronics, the company hopes to feed the increasing demand for medium unmanned aircraft in industrial, commercial and military markets.
The company states on their website that their aircraft are world class. “Primoco UAVs provide an affordable entry point into the UAV sector by providing flight and payload capabilities unmatched anywhere outside of the largely inaccessible military aircraft,” the website says.
The listing will be undertaken via the START platform, which provides access to capital for small and medium-sized companies on the Prague Stock Exchange.
Initially, Primoco UAV says they will offer investors shares in a public primary offer (IPO). Then, allowing that the process runs to schedule, Primoco UAV SE expectes that trading of shares on the START platform could begin in the second quarter of 2018.
The move follows completion of a two-year development project of their unmanned aircraft last year and certification by the local Civil Aviation Authority to commercially produce unmanned aircraft.
The UAV, which can be remotely operated as well as auto-piloted by an integrated system, is capable of fully independent take-off and landing, and fully autonomous flight plan execution.
It requires a runway size of 100-300 metres, which means it has the ability to execute aerial missions without the need for full airport facilities.
“The key features of the aircraft are its size, a maximum take-off weight of 100/150kg, 10 hours endurance, 1500 km range, cruising speed 100-150 km / h, a payload of up to 50kg and fully automatic take-off and landing. This is particularly useful in energy infrastructure monitoring, border and coastal protection, fire monitoring or search and rescue,” the company states.
The company not only makes and sells it’s unmanned aircraft, but also intends to sell the 50 horse-power Primoco Engine 500 engine (50 HP) for installation in third-party aircraft.
“For Primoco, this is a very important moment in the history of a company that has been able to develop, test, certify and successfully start selling its aircraft worldwide. We produce and sell an aircraft that has no global competition in its size and sector. We are even more excited that we just made our first sale of aircraft to Malaysia,” said Ladislav Semetkovsky, CEO and founder of the company.
Primoco UAV SE is a company owned and managed by Czech entrepreneurs with extensive experience in international trade and the aerospace industry, and the company’s main advisor on the START process is C-Corporate Finance.