Martin Jetpack

USAFControl · 02-24-2015, 06:10 AM

Jetpack maker soars on ASX debut

AAP – 5 hours ago
New Zealand based jetpack maker Martin Aircraft's shares soared on their debut on the Australian stock market.
A 10 per cent gain delivered a $1.55 million windfall for the company's founder, Glenn Martin, increasing the value of his 19 per cent stake in the company to more than $17 million.
Martin Aircraft shares were issued to investors at 40 cents, and hit a high of 65 cents on Tuesday before closing at 44 cents.
The company is working on delivering its first commercial jetpack in 2016, which it expects could be used for rescue, military and recreational purposes.
It raised $27 million by issuing shares in the company, most of which were taken up by China-based investor KuangChi Science.
The Hong Kong Stock Exchange-listed company has bought a near 28 per cent stake in Martin Aircraft, plus convertible notes to be taken up in the future to give it a majority stake.
The funds raised by the listing will go toward a commercial jetpack planned for the second quarter of 2016.
The US Department of Homeland Security intends to take the product, which can fly for 30 minutes with a 30-kilometre range at speeds of up to 74 kilometres per hour.

from Yahoo news

https://au.finance.yahoo.com/news/je...005547021.html

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02-24-2015, 06:10 AM	#13 (permalink)
USAFControl Base Member Join Date: Jan 2012 Location: Atlanta Posts: 43 Drives: 2010 Nissan 370z Rep Power: 14	Jetpack maker soars on ASX debut AAP – 5 hours ago New Zealand based jetpack maker Martin Aircraft's shares soared on their debut on the Australian stock market. A 10 per cent gain delivered a $1.55 million windfall for the company's founder, Glenn Martin, increasing the value of his 19 per cent stake in the company to more than $17 million. Martin Aircraft shares were issued to investors at 40 cents, and hit a high of 65 cents on Tuesday before closing at 44 cents. The company is working on delivering its first commercial jetpack in 2016, which it expects could be used for rescue, military and recreational purposes. It raised $27 million by issuing shares in the company, most of which were taken up by China-based investor KuangChi Science. The Hong Kong Stock Exchange-listed company has bought a near 28 per cent stake in Martin Aircraft, plus convertible notes to be taken up in the future to give it a majority stake. The funds raised by the listing will go toward a commercial jetpack planned for the second quarter of 2016. The US Department of Homeland Security intends to take the product, which can fly for 30 minutes with a 30-kilometre range at speeds of up to 74 kilometres per hour. from Yahoo news https://au.finance.yahoo.com/news/je...005547021.html