Saietta has raised nearly £33m to complete the development of its aerial flux motor technology and build a production facility for the motors. The strategy is to focus predominantly on e-motorcycles, particularly in Asian markets.
Saietta is already talking to four out of the top five motorcycle manufacturers in India. It is also talking with manufacturers in China.
Existing shareholders raised £2.2m through the placing. The share price ended the first day of trading at 125.5p, having reached 131p at one point.
Saietta is valued at more than £100m and it has minimal revenues. ...
