The purchase or sale of securities of Primoco UAV SE, the Czech manufacturer of unmanned aerial vehicles (UAVs), will be more accessible to retail investors as of 30 January 2023. The Prague Stock Exchange will reduce the basic investment volume (lot size) for this title on the Start market to 10 units, which at the current rate corresponds to CZK 4,100.
Until now, Primoco UAV shares could only be traded in hundreds of shares. “When we went public, we were supported primarily by major financial investors who had no problem with a larger lot size and an investment in the millions of Czech crowns. Four years have passed since then, we are meeting our goals and we want to offer retail investors the opportunity to buy our shares. This will also support liquidity for existing investors,” says Ladislav Semetkovský, founder and CEO of Primoco UAV SE, and explains the reasons why the company asked for the lot size reduction.
Shares of Primoco UAV were among the best performers on the Prague Stock Exchange last year. Their appreciation by 52% was one of the reasons why the company has now asked for the lot size to be reduced to 10 units. “While at the beginning of 2022, CZK 27,000 was enough for an investor to buy one lot of our shares, by the end of the year it was over CZK 40,000,” says Semetkovský.
Primoco UAV sold a total of CZK 400 million worth of UAVs last year and expects sales of one billion this year. Its UAVs currently perform civilian and military missions in Europe, Asia, Africa, and the Middle East. Among the most frequent customers are intelligence services, armies, or integrated rescue system units, which use Primoco UAVs for searching for people, fighting large-scale fires or protecting borders. In addition to supplying the UAVs, the Czech manufacturer also provides crew training and technical support, including service and spare parts.