All set for ASX listing

  • $8m raised in successful IPO

  • Book oversubscribed multiple times

  • Fully underwritten by Morgans Corporate Ltd

  • Well supported by existing and new Australian institutional investors

  • Good mix of institutional and retail investors

 

SRJ Technologies has completed a successful capital raise as part of its initial public offering ahead of a proposed listing on the Australian Securities Exchange on 18 September.

Seeking to raise a total of AU$8m, the company attracted major interest with the book being oversubscribed multiple times.

Among the broad mix of institutional and retail interest, existing Australian institutional investors Ellerston Capital and Regal Funds Management took strong additional positions in the Company. The raise was fully underwritten by lead broker Morgans Corporate Limited.

 

SRJ CEO Alexander Wood said the company was on track to commence trading on the ASX on Friday, 18 September 2020, under the code SRJ.

“Despite the challenges that 2020 has posed with the global COVID-19 crisis and its impact on the oil and gas sector, there has been very strong interest in the IPO,” Mr Wood said.

“In fact, the crisis has provided SRJ with significant opportunities to sell its containment solutions to operators that are looking for ways to extend the life of existing assets rather than replace them.”

Mr Wood said SRJ had a solid sales pipeline, including direct opportunities with operators and joint venture projects through partner organisations.