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Bhagwan Marine Ltd. ( (AU:BWN) ) has issued an announcement.
Bhagwan Marine Limited secured shareholder approval at its general meeting for all resolutions related to the proposed acquisition of Riverside Marine Holdings Pty Ltd, including the issue of 48.8 million escrowed shares as scrip consideration and approvals tied to a $30 million equity raising. The company expects settlement of Tranche 2 placement shares and a director placement on 30 March 2026, with completion of the Riverside Marine acquisition and associated share issuance targeted for 31 March 2026, positioning Bhagwan to scale operations, diversify services and geographies, and enhance recurring cash flows and sustainable earnings growth.
The acquisition of Riverside Marine is framed as a key step in Bhagwan’s growth strategy, leveraging Riverside’s complementary service offering, long-term contracts and capital-light model to broaden the group’s revenue base. By combining an expanded fleet and strong recurring revenue with fresh equity funding, Bhagwan aims to strengthen its competitive standing in marine services, improve free cash flow generation and deliver greater stability and growth potential for its stakeholders.
The most recent analyst rating on (AU:BWN) stock is a Hold with a A$0.41 price target. To see the full list of analyst forecasts on Bhagwan Marine Ltd. stock, see the AU:BWN Stock Forecast page.
More about Bhagwan Marine Ltd.
Bhagwan Marine Limited is Australia’s largest listed marine solutions provider, serving the offshore energy, subsea, ports and inshore, and defence sectors with a diverse, multi-functional fleet. The company is also the country’s largest in-house marine crewing provider, employing more than 1,000 professionals, including up to 200 qualified divers, and maintains long-standing partnerships with major energy and mining companies, construction firms and government agencies.
Average Trading Volume: 415,715
Technical Sentiment Signal: Sell
Current Market Cap: A$127.7M
For an in-depth examination of BWN stock, go to TipRanks’ Overview page.