Munich-based Isar Aerospace, which specialises in small satellite launches, has modified its formal registration from a GmbH (‘Gesellschaft mit beschränkter Haftung’, meaning ‘company with limited liability’) to an ‘SE’ (Societas Europaea) registered business. Rumours suggest the move could be a precursor to a move to an IPO.

Isar Aerospace has raised significant funds over the past year or two amounting to around $330 million and in the past has said that the 300 employee business would need more capital ahead of its launch of a satellite.

Isar has a relationship with Norway-based Andoya Spaceport. Isar Aerospace plans to test-launch a rocket into space from Norway in 2024,and which would be continental Europe’s first spaceport for orbital missions.

The initial flight is planned for Andoya Spaceport, on an island off of Norway, Isar and Andoya Space said Thursday in a statement. Isar plans to launch satellites from the facility, providing a regional counterbalance to US players like SpaceX.

In October Isar test-fired its Aquilla engine. There are nine engines in each rocket’s first stage.

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Tags: germany, IPO, isar, satellite