The Czech National Bank gave Primoco UAV the green light to enter the PX Start market of the Prague Stock Exchange

The Czech National Bank has approved the prospectus of the Czech manufacturer of civilian unmanned aerial vehicles Primoco UAV SE. Primoco UAV develops, manufactures, and sells the One 100/150 UAV and the Primoco Engine 500 engine.

Primoco UAV will offer its shares to investors through a initial public offering (IPO) on the Prague Stock Exchange. The IPO will end on 15 May 2018, when the final volume of the issue and the price per share will be determined based on the demand.

For Primoco, this is a crucial moment. During its existence the company has proved its ability to develop, test, certify, and successfully sell its aircraft worldwide. We manufacture and sell a vehicle that is unmatched in its size category on a global scale. We are offering 15% of new shares in the company with an expected return of CZK 200 million, to be used primarily for the construction of a new production plant with an annual capacity of 250 aircraft,” said Ladislav Semetkovský, the CEO and founder of the company.

Primoco UAV is a successful company that last year completed the three-year development of its unmanned aerial vehicle and received certification from the Czech Civil Aviation Authority. The civil unmanned aircraft the Primoco UAV model One 100/150 is able to fly completely independently according to programmed flight plans. The key features of the aircraft include its size, maximum takeoff weight of 100/150 kg, endurance of 10 hours, range of 1500 km, cruising speed of 100-150 km/h, payload of 50 kg, and fully automatic takeoff and landing. It is thus suitable in particular for the energy sector and border and coastal protection, as well as fire monitoring and search and rescue operations.

In addition, the company has developed its own Primoco Engine 500 engine, which combines high performance (50 HP), reliability, and a long life (TBO 500 hours) while maintaining compact dimensions and a very low weight (25 kg). This engine is used in aircraft manufactured directly by Primoco UAV SE and is also intended for sale and installation in the vehicles of other manufacturers.

On 27 April 2018, the Czech National Bank approved the prospectus of Primoco UAV SE shares, ISIN CZ0005135970, on the basis of which a public offering of up to 722,154 dematerialized shares with a nominal value of CZK 1 (EUR 0.036068530207394048692515779981966) will be organized. The public offer is made on the basis of the decision of the Shareholders’ Meeting of 21 March 2018, which decided to increase the registered capital by up to CZK 722,154 (i.e. from the current CZK 4,092,210 to 4,814,364 CZK). It will be possible to subscribe for shares through the trading members of the Prague Stock Exchange on the PX Start platform.

The full text of the prospectus can be found starting today on the Issuer’s website http://investor.uav-stol.com.