Austal Limited ( (AU:ASB) ) has shared an update.
Austal Limited has announced a proposed placement of new fully paid ordinary shares to raise approximately A$200 million, alongside a share purchase plan to raise an additional A$20 million. This capital raising initiative is aimed at strengthening the company’s financial position and supporting its strategic growth plans. Additionally, Austro Pty Ltd, associated with John Rothwell, plans a non-underwritten sell down of approximately A$50 million contingent on the placement’s full subscription. These financial maneuvers are likely to impact Austal’s market positioning and provide opportunities for eligible institutional investors and shareholders.
More about Austal Limited
Austal Limited is a company operating in the shipbuilding industry, known for designing and constructing ships for commercial and defense markets. Its primary products include high-speed ferries, naval vessels, and other specialized ships, with a market focus on both domestic and international clients.
YTD Price Performance: 37.25%
Average Trading Volume: 4,851
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1B
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