Primoco UAV, the Czech manufacturer of unmanned aerial vehicles, has today launched a secondary share offering of a total of 655,300 new shares, which corresponds to more than 13% of the company's capital after the subscription is completed. The net total proceeds of the issue if all offered shares are subscribed will be up to CZK 170 million.
Primoco UAV, the Czech manufacturer of unmanned aerial vehicles, has taken an important step to expand its business in the Gulf countries. Together with the Saudi company Middle East Systems & Technology (MEST), it has signed an agreement for regional representation and the creation of a joint venture.
The Czech producer of unmanned aerial vehicles Primoco UAV SE and Norwegian Special Mission (NSM), provider of airport calibration solutions, introduced a brand new and highly innovative NAVAID calibration system based on the Primoco One 150 UAV and NSM UNIFIS 1000 calibration system.
Last year, despite the coronavirus crisis, Primoco UAV increased sales by more than nineteen times, reducing its operating EBITDA loss by almost three quarters to CZK 4.98 million. The favourable results are mainly due to new sales of unmanned aircraft and spare parts.
Leading Indian advanced technology company BEML and Czech innovation company Primoco UAV agreed on the cooperation in the field of Unmanned aerial technology. Both companies signed a Memorandum of understanding during the Aero India 2021 show and agreed to cooperate with an aim to establish a Center of excellence for unmanned technology for the region within the BEML organization. Both parties are fully following the Make in India policy and see a wide potential for rapid development of the cooperation allowing them to implement a common solution into several segments of the Indian economy and law enforcement and defence areas.
The ČMZRB Group, in the cooperation with the Ministry of Industry and Trade, has published a call under the program Venture Capital – IPO Fund. It will allow ČMZRB to support SMEs in the form of capital inputs for the first time in its history.