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Bulgarian Dronamics Capital begins trading on Sofia stock exchange

SOFIA (Bulgaria), December 23 (SeeNews) – Dronamics Capital [BUL:DRON], a company linked to Bulgarian cargo drone maker Dronamics, made its debut in the Bulgarian Stock Exchange’s (ESB) SME growth market BEAM following a successful initial public offering (IPO), the exchange said on Thursday .

“We welcome Dronamics Capital, which is on the verge of making a breakthrough in global air cargo transport, this after a 70-year hiatus in aircraft manufacturing in Bulgaria,” said ESB Executive Director Manyu Moravenov , in a press release.

At 1:45 p.m. CET on Thursday, Dronamics Capital shares were trading at 1.80 lev (1.04 / 0.92 euro), according to exchange data.

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

Dronamics Capital plans to invest the raised capital in its parent company, Dronamics Global Limited, and support the launch of the first commercial cargo drone flights in 2022, the Sofia Stock Exchange reported.

(1 euro = 1.95583 lev)

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