The securities of unmanned aircraft manufacturer Primoco UAV SE will newly be traded on the main market of the Prague Stock Exchange from Monday, 29 January 2024. Last year’s best-performing stock on the Prague exchange will join issuers such as ČEZ, Erste Group Bank and Komerční banka after completing the final phase of preparations — from the approval of its prospectus by the Czech National Bank to the transition to financial reporting under the international IFRS standards.
After more than five years on the START market for small and medium-sized enterprises, Primoco UAV SE will move to the Prague Stock Exchange’s Prime Market as of 29 January 2024. Ladislav Semetkovský, the founder and CEO of the company, which focuses on the production of unmanned aircraft and the provision of aerial services, expects that the move to the Prime Market will not only bring prestige but also further increase interest in the company’s shares, which were the best-performing on the Prague exchange last year.
“On the START market, we gradually became known to most Czech investors and achieved a market capitalization approaching CZK 5 billion. The Prime Market will now place us among the largest publicly traded companies in the Czech Republic and open our shares more to the world, which will help us continue to dynamically increase the value of the company,” says Semetkovský.
“The company’s transfer from an unregulated market to the Prime Market is a significant event for the exchange. We established the START market precisely with the vision that it would become an entry point to the capital market for smaller companies and, ideally, an intermediate step on their path toward international investors active on the Prime Market. Primoco has come a very long way since entering the stock exchange. It is a top-tier technology company that will represent the Czech Republic excellently, and I firmly believe it will find its way into the portfolios of many foreign investors,” says Petr Koblic, CEO of the Prague Stock Exchange.
The price of Primoco UAV shares on the Prague Stock Exchange more than doubled last year after the company began significantly increasing its sales volumes, revenue and profit. Following the announcement of record preliminary financial results for last year, the share price has risen by a further more than 12% since the beginning of 2024, approaching the CZK 1,000 per share mark. In November 2018, during the IPO, the subscription price of one share was CZK 250. For 2024, the company’s management expects another significant increase in key financial indicators.