First space tech company joins Warsaw Stock Exchange’s main market


Creotech Instruments, a leading Polish manufacturer of satellite systems and advanced electronics for quantum computers, is scheduled to debut on the Warsaw Stock Exchange’s (WSE) Main Market on 11 July 2022. Last month saw the allotment of Creotech Instruments’ shares following its public offering that raised PLN 39.65m gross. The main market-bound company was able to successfully complete its first issue this year against the backdrop of a very challenging market environment.

“Joining the ranks of other companies listed on the WSE’s Main Market in Warsaw is the crowning achievement of months of hard work and the successful public issue of shares worth PLN 39.65m gross. Despite the extremely challenging market environment, the offering enjoyed considerable popularity among investors, as attested by the 40% reduction of subscriptions in the Retail Investors Tranche. Once again, we would like to thank all investors for their trust and faith in our business model. I would also like to add that our new shareholders also include renowned open pension funds and investment fund companies,” says Grzegorz Brona, President of the Management Board of Creotech Instruments S.A. “The listing transfer ceremony from NewConnect to the regulated market will be held this Monday, 11 July 2022,” he adds.

This year’s public offering covered 396,558 series I shares, of which 20,710 shares were acquired by investors as part of the Retail Investors Tranche and 375,848 shares as part of the Institutional Investors Tranche. The issue price per share was set at PLN 100. The global coordinator of the offering was Dom Maklerski Navigator S.A., with Noble Securities S.A. acting as co-coordinator and law firm WBW Weremczuk, Bobeł & Wspólnicy serving as legal advisors and CC Group Sp. z o.o. as advisor to the Management Board.

For many years, Creotech Instruments has been pursuing a range of exciting and advanced technological projects, partnering with renowned public and private entities worldwide, including the European Space Agency and the European Organization for Nuclear Research (CERN).

The space market is a key segment for the company. Creotech Instruments is currently working on EagleEye, an R&D project based on the proprietary HyperSat microsatellite platform involving the development of an Earth observation microsatellite. The satellite is scheduled for launch to low Earth orbit in late 2023/early 2024.

“Creotech is Poland’s only company capable of building complete microsatellite systems. The planned production capacity of HyperSat-based satellites is approx. 20 units per year with an estimated annual market demand of over 1,000 units. Typically, the lifespan of such objects in orbit is about five years, meaning that we can count on repeat orders,” says Jacek Kosiec, Vice President of Creotech Instruments. “Please note that we are already securing the first contracts for the delivery of satellites to be able to put our existing production capacities to use as soon as possible. Our first satellite contract involves the provision of three units for the  PIAST project, which seeks to place observation satellites in orbit around the Earth in 2024. This undertaking aims to create the instruments of a national system of Earth observation satellites for the Polish Armed Forces in Poland. This will mark the first commercial implementation of the HyperSat platform. We also partnered with Malaysia’s University College TATI to develop advanced satellite and drone technologies that meet the needs of this country,” adds Jacek Kosiec.

The company is also active in the promising quantum technology market. The European Union has recently initiated the largest project in this field to date. In May 2022, the European Commission selected an international consortium led by the University of Innsbruck, whose ranks include Creotech Instruments, to build the first large quantum computer for the EU. The project aims to build a 100-qubit quantum computer by 2025 and achieve technological readiness to deliver a 1000-qubit solution by 2029.

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