Austal Limited ( (AU:ASB) ) has provided an announcement.
Austal Limited has successfully completed a $200 million institutional placement to expand its US shipbuilding capabilities, specifically for large steel vessels, which will enhance its ability to deliver on contracts with the US Navy and Coast Guard. The placement received strong support from existing and new investors, including its largest shareholder, Tattarang. Additionally, Austro Pty Ltd, associated with Austal’s former Chairman John Rothwell, sold a portion of its shares, while Austal plans to offer a Share Purchase Plan to eligible shareholders in Australia and New Zealand.
More about Austal Limited
Austal Limited is a global shipbuilding company that specializes in the design and construction of defense and commercial vessels. The company is known for its innovative shipbuilding solutions and has a significant market focus on the United States Navy and Coast Guard, contributing to its strategic positioning in the defense sector.
YTD Price Performance: 39.71%
Average Trading Volume: 5,221
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.02B
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