Rocket Company Launches Stock Offering
The Ad Astra Rocket Company, founded in 2005 by Costa Rican astronaut and physicist Franklin Chang, announced Wednesday that it will become a limited public corporation, offering stock to investors willing to pay a minimum of $25,000 on Costa Ricaâ€™s National Stock Exchange.
Ad Astra Rocket Company, headquartered in Houston, Texas, also has a branch in Liberia, capital of Costa Ricaâ€™s northwestern Guanacaste province.
â€œWe expect investors of Ad Astra Rocket to be more sophisticated, knowledgeable investors who understand the stock market and the undertaking of larger investments,â€ said Oscar Luis Chaves, director of the economic consulting firm Aldesa, which is helping orchestrate Ad Astraâ€™s limited public offering. â€œItâ€™s not your normal investment. There arenâ€™t a lot of investors who have committed funds to a rocket company before.â€
According to JosÃ© Rafael Brenes, general manager of the National Stock Exchange, the possibility of investing in Ad Astra Rocket Company should be available within the next three weeks, with a tentative Oct. 12 release date set for the stock. In addition to Costa Ricans, investors from Panama and El Salvador will also have the opportunity to buy shares in the company. According to Chaves, Ad Astra seeks a boost of $85 million in private investments over the next four years. Currently, about 70 percent of the investment that fuels the Ad Astra Rocket Company comes from Costa Rican contributions (TT, Aug. 13).
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