Article by Bevis Yeo
Indoor Skydive Australia Group (ASX:IDZ) has leapt into the ASX after raising almost $7.4 million from its IPO.
The company plans to construct and operate the only large scale commercial indoor skydiving facility in Australia, which will also be the second of its type in the Asia Pacific region.
Indoor Skydive will begin trading at 11am (AEDT) on Friday 18 January.
The planned facility – to be sited within the Penrith Rugby League Club redevelopment at Penrith – will house one of the largest Verical Wind Tunnels (VWT) available in the world and will be able to accommodate up to eight professional skydivers, or two amateurs, at a time for training or entertainment.
Professional sky divers are required ongoing training to remain competitive as do military operators.
As such, VWT infrastructure is complementary to skydiving as it provides virtual or simulated training in a controlled environment that is not subject to weather and other factors.
International organisations have also recommended the use of VWT for simulating training to prepare beginners for full licencing to undertake individual skydiving.
This facility is expecting to start operating no later than January 2014.
Indoor Skydive believes there is potential for it to operate a portfolio of VWTS located throughout Australia, meeting the demand of users located in capital cities and suburbs.