Aerospace services company Strat Aero begins trading on Aim today, following a placing of 8,125,000 shares to raise £650,000.
The placing values the company at around £6.2m, and the funds raised will be used to provide working capital to explore existing and new opportunities.
Strat Aero will be focusing particularly on the growing market for unmanned aerial vehicles (UAV), more commonly known as drones. The company is expected to begin training military pilots to fly fixed-wing drones before the end of the year, as part of a deal with a major US defence contractor.
Russell Peck, Strat Aero’s chief executive, said the company offered an opportunity to gain exposure to the “near exponential growth forecast for the UAV market”. Peck added: “The potential uses for UAVs in both the public, governmental and commercial sectors are seemingly limitless and highly varied.”