Foresight Autonomous Holdings: RV Completes Successful Trenitalia Trial
Edison | Nov 15, 2016 07:35AM ET
Foresight Autonomous Holdings Ltd (TA:FRST) has announced that Rail Vision (RV) has completed a trial of the infrastructure inspection capabilities of its advanced driver assistance system with Italian rail operator, Trenitaila. Foresight also announced the recent completion of a capital injection into Rail Vision, which totalled $0.822m, to increase its stake by 18.5% to 32.0%. This is close to our Q416 assumption of an increase in stake to 31.5% and with the additional shares acquired at the same advantageous per share purchase price. We see the success in these tests as a positive step towards RV’s goal of completing the first sales of its train vision system in Q317 and generating ongoing revenues from infrastructure inspections. We accordingly see this news as supportive of our share valuation of NIS3.15, as per our initiation report of 27 September 2016.
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