The Polish space sector has gained a new representative on the stock market. Liftero, a manufacturer of satellite propulsion systems, made its debut on the NewConnect market, and the company’s initial valuation was met with a clearly positive reaction from investors.
Liftero’s share price at the opening of the first trading session stood at 50 zł, representing a 42.9 per cent increase on the issue price of 35 zł set in its public offering in May. The company is the 336th firm listed on NewConnect and the sixth to make its debut on this market this year. At the same time, it has become the sole representative of the Polish space sector on NewConnect and the only publicly listed company in Europe focused exclusively on satellite propulsion systems.
The listing was the next stage following the initial public offering completed in May, in which Liftero raised PLN 17.5 million gross. The share issue attracted significant interest from investors. In the open tranche, demand far exceeded the number of shares on offer, and the allocation ratio stood at around 95 per cent. A further sign of market confidence was TFI PZU exceeding the 5 per cent shareholding threshold even before trading began.
Liftero is developing its proprietary BOOSTER propulsion system designed for satellites. The solution uses non-toxic propellants and has already been verified during the RED5 mission, giving it ‘flight heritage’ – that is, confirmation of its operation under real space conditions. The technology addresses the market’s growing needs regarding the manoeuvring of satellites in orbit, changing their position, avoiding collisions and controlled de-orbiting at the end of a mission.
The capital raised is to be allocated to increasing production capacity, developing research and testing facilities, and commercialising the BOOSTER system in international markets. According to the company, the value of its current sales pipeline stands at around €105 million and includes discussions with international clients seeking propulsion systems for new satellite missions.
Liftero’s stock market debut comes amid growing investor interest in space-tech companies. However, the company’s success will depend not on a successful stock market debut alone, but on its ability to translate the growing interest in its technology into long-term contracts and scale up production on the global market.
