NZ Jetpack maker receives share interest

New Zealand based Martin Aircraft Company, which has
developed the world’s first practical and commercial jetpack, says there seems
to be substantial interest in its shares.

Stuff.co.nz reports that the company is listing on the
Australian stock exchange, rather than on the New Zealand exchange in order to
attract a wider range of investors.

It is offering 50 million shares to the Australian and New
Zealand public at 50 cents each. The deadline for committing to buy them in the
initial public offering (IPO) is today.

There has not been much interest from average investors.
According to brokers, this was to be expected as it is a speculative investment
and is very small.

“It’s an area for investors who want to take a very
high risk gamble on something that may or may not take off,” said Martin
Allison, a client adviser at sharebrokers Craigs Investment Partners in
Auckland.

The Jetpack is powered by a V4 200hp engine driving two
ducted fans, has been flown to a height of 5,000 feet and can reach speeds of
up to 74km/h.

This personal aircraft will be the basis for the first
commercial release of a Jetpack in 2014, suitable for a Government and Agency
market under the banner of “first responder” to service markets such as the
fire service, search & rescue, disaster recovery and border security.

According to the company, it also has potential commercial
and industrial uses, such as in the mining, energy, and agricultural sectors.

Image: Martin Aircraft Company