Cybergun shares gained ground on the Paris Bourse on Monday morning, following the signature of a new licensing agreement with U.S.-based Century Arms.

This agreement will enable the leisure shooting specialist to produce and market a range of replica firearms under the Century Arms brand.

Founded in 1961, Century Arms produces light firearms for the military, law enforcement and gun enthusiasts, such as the Mosin-Nagant M91, Makarov and KAR 98.

With around ten models available from spring 2023, Cybergun estimates the potential of the agreement at over one million euros in revenues per year from the first full year of operation.

In the medium term, the group says it sees potential for several million additional euros, which saw its share price climb by over 5% this morning on the Paris market.

Copyright (c) 2023 CercleFinance.com. All rights reserved.