SRJ Technologies Limited, a specialist engineering firm based in Jersey, UK and with operations around the world, has announced its intention to IPO on the Australian Securities Exchange before the end of the year.
The company develops a range of weld-free products for pipe repair and replacement, leading to safer, faster and more cost-effective solutions across a range of industry sectors including oil and gas.
The IPO coincides with the company’s plans to rapidly accelerate growth in Australia and other markets. This is coupled with a recently signed global supply agreement with oil and gas engineering conglomerate EnerMech, as well as a manufacturing deal with a WA company.
SRJ Technologies CEO Alexander Wood said the proposed ASX listing had been well received by the company’s customers and Australian investors.
“A significant portion of our future revenues is forecast to come from the Australian market as we continue to grow and design new products for the oil and gas industry,” Mr Wood said. “We see this listing as a critical step towards capitalising on our current global supply agreements and entering new markets internationally.”
Perth stockbroking firm CPS Capital has been appointed as lead manager of the pre-IPO raising, which seeks to attract AUS$5 million.
“We are excited to be working with the impressive team at SRJ Technologies,” said Tim Neesham, Corporate Representative at CPS Capital. “The company has assembled a fully engaged management team including some highly-regarded industry experts and we look forward to assisting with the expansion into the Australian market.”
Read the article online at: https://www.worldpipelines.com/business-news/15072019/global-pipeline-engineering-firm-targets-asx-listing/