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Bulgaria's Dronamics Capital starts trading on Sofia bourse

Author Vasil Kolchev
Bulgaria's Dronamics Capital starts trading on Sofia bourse Photo: Bulgarian Stock Exchange

SOFIA (Bulgaria), December 23 (SeeNews) - Dronamics Capital [BUL:DRON], a company related to Bulgarian cargo drone manufacturer Dronamics, made its debut on the SME growth market BEAM of the Bulgarian Stock Exchange (BSE) following a successful initial public offering (IPO), the bourse said on Thursday.

"We welcome Dronamics Capital, who are on the verge of a breakthrough in the global air cargo transport, this after a 70-year pause in aircraft construction in Bulgaria," BSE executive director Manyu Moravenov said in a press release.

As at 13:45 CET on Thursday, shares in Dronamics Capital traded at 1.80 levs ($1.04/0.92 euro), bourse data showed.

Earlier this month, Dronamics Capital raised almost 5.9 million levs in an IPO on the BEAM market which was oversubscribed 4.5 times. Investors subscribed and paid for a total of 5,334,081 company shares with a nominal value of 1 lev and an issue price of 1.10 levs per share.

Dronamics Capital plans to invest the raised capital in its parent company, Dronamics Global Limited, and to support the launch of the first commercial flights of cargo drones in 2022, the Sofia bourse said.

(1 euro = 1.95583 levs)