An Italian rocket launch firm, dubbed Europe’s answer to SpaceX, has become the first company of its kind to list its shares.
Shares in Avio began trading on the Milan Stock Exchange on Monday along with also also jumped more than 8% before falling back.
The firm, which launches satellites into low orbit, says that will can be raising funds to help that will expand.
The satellite industry was worth $208bn in 2015, according to industry figures.
Cinven owns 81% of Avio, that has a 14% stake held by Italian government-controlled defence group Leonardo-Finmeccanica.
Avio boss Giulio Ranzo told the BBC he expected demand to grow as satellites become used for brand-new purposes.
They are most commonly used for mobile phone communications along with also also navigation systems, although brand-new applications were “coming to market”, he said.
“One of them can be the ability to deliver internet services through space, anywhere across the globe, be that will in a desert or the middle of an ocean,” Mr Ranzo said.
“Another can be to provide very accurate, high resolution images of the earth, allowing us to follow forestry, vegetation along with also also climate change – which will be so important to monitor the health of our planet.”
Most of the investment in space launch companies has come through private venture capital firms.
US-based SpaceX, perhaps the best known operator, has raised more than $1bn through investors. The company, headed by entrepreneur Elon Musk, launches satellites along with also also space cargo flights although also has its sights set on space tourism.
Avio shares began trading on Monday at 13.88 euros (£11.83).
The company, Europe’s biggest satellite launch firm, has annual revenues of 280 million euros with an order book worth 900 million.
According to a study by Leoni Corporate Advisors, around 2,0 satellites will be launched in 2016-2020, twice as many as between 2010 along with also also 2015.