Luxembourg 12th December 2018- Luxembourg-based Kleos Space S.A. (ASX: KSS), state-of-the-art space technology operator, is pleased to announce the dual-listing of the company’s shares on the Frankfurt Stock Exchange trading with the ticker code KS1 as it prepares for the launch of its first satellites and commercialisation of its ‘Data as a Service’ (DaaS) product in 2019.
Andy Bowyer, CEO of Kleos Space said: “While we are delighted to have many Australian investors already on board, we have dual-listed on the Frankfurt Stock Exchange to support our strategy which aims at broadening our European investor base. It will allow European investors to engage more easily with the company’s plans over the next 12 months as it launches the Kleos Scouting Mission and starts selling its commercial and independent data to government agencies, the intelligence, surveillance
and reconnaissance (ISR) community and organisations interested in locating threats, assets or those in need of search and rescue.
Germany is at the heart of the European Space sector with an annual government spend of €1.43 billion in Space and a total industry size of €2.5 billion. A dual-listing on the Frankfurt Stock Exchange allows Kleos to be found among similar defence and space-enabled companies in a sector undergoing tremendous growth. Small satellite technology like that of Kleos Space is playing an increasingly vital role in the US$41 billion ISR market informing decisions on the ground that protect people and the environment. Much of this activity is happening in Europe.
The Frankfurt Stock Exchange is within two hours’ drive of our Luxembourg HQ, has a strong reputation and with trading hours in the European time zone allows us to increase our accessibility to a larger pool of potential investors and sizeable capital pool of US$2.4 trillion.”
Kleos Space shares are already quoted on the Australian Securities Exchange (ASX) – a Frankfurt Stock exchange-approved “like” exchange, the dual-listing was possible without primary listing procedures such as the filing of an additional Prospectus.