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Australia's next defence drone company takes off as Boresight lists on ASX today

JMM

Key Facts:

Listing: Commencing ASX trading 10 June 2026 (ASX: BST) following an $8 million IPO; listing price is 20 cents, with fully diluted market cap pre-raise of $33.8 million. Post-IPO shares on issue approx 209 million. The market cap post-raise is $41.8 million, with 34.2 million options with a five-year expiry and a $0.25 strike price.

Business: Purpose-built target drones are used as realistic aerial threats in counter-drone (C-UAS) training and live-fire evaluation where they are shot down and replaced. The ground control system allows for swarming of multiple drones simultaneously.

Customers: More than 6000 target drones sold, including to private companies and 15 militaries across 12 countries since 2020, with manufacturing hubs in Australia and the United States. 

Use of funds: Expand production and engineering teams, scale US manufacturing, and grow Canberra manufacturing capability.

FOR IMMEDIATE RELEASE  10 June 2026

SYDNEY, NSW -  Boresight Ltd (ASX: BST), an Australian defence-technology company specialising in low-cost aerial target drones for counter-drone training, today commences trading on the Australian Securities Exchange in Sydney, following a strongly supported $8 million initial public offering.

Managing Director and CEO Justin Olde says, "A lot of people have put in a lot of work to get us here today and I’m proud of every one of them. Boresight is proof that Australia can build a world-class offering. Our aerial target drones and the proprietary control system supporting them enable safe, repeatable and cost-effective training for this new age of drone warfare and that matters enormously. Safe, repeatable, affordable training is a critical requirement for militaries and counter-drone customers.

The scale of opportunity for Boresight is big. If you think about the number of soldiers around the world who need to be trained in this area, it's a big number.  We'll use the funds from the raise to invest in new manufacturing capability and grow our team to capitalise on this opportunity and continue to develop our offering."

The Fyshwick-based company designs affordable drones built to be shot down, allowing military forces to train against realistic drone threats at a fraction of the cost of using commercial alternatives. Boresight sells its aerial target drones and proprietary control system to the militaries of 14 countries, including the United States and Australia, and has expanded with offices in Huntsville, Alabama, and Nottingham, England.

The IPO, priced at $0.20 per share, gives Boresight a market capitalisation of approximately $41.8 million on listing.

 

About us:

Boresight delivers an integrated aerial target drone ecosystem that enables realistic counter-UAS training and testing for defence forces. The company’s systems combine attritable aerial target drones, mission planning software and scalable ground control systems to support threat emulation and operational readiness. 

Boresight’s platform range includes quadrotor and fixed-wing aerial targets designed to replicate evolving drone threats and enable repeatable training scenarios without risking high-value ISR assets. 

With teams in Australia, the United States and the United Kingdom, Boresight supports defence partners globally with scalable training infrastructure and integrated engineering and production capability.

Contact details:

Boresight | Managing Director, Justin Olde, E: [email protected]

Jane Morgan Management | Investor and Media Relations, Wilamina Russo, M: 0450 646 609