Martin Jetpack reviews ASX listing as Chinese investor commits A$50M

Fri, 19 Dec 2014

By Pattrick Smellie Dec. 19 (BusinessDesk) - New Zealand jetpack maker, Martin Aircraft Co, has secured more than twice the $25 million funding it has been seeking in a proposed initial public offering on the Australian Stock Exchange to commercialise its single person flying machines, with a commitment of A$50 million ($53 million) to fund a 30 month commercialisation plan, from Hong Kong Stock Exchange-listed KuangChi Science. In return, KuangChi Science will become what is termed in a statement issued today as a "major" and "cornerston...

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