The latest announcement is out from Austal Limited ( (AU:ASB) ).
Austal Limited has successfully completed its Share Purchase Plan (SPP), raising over A$31 million, surpassing the target of A$20 million. The plan allowed eligible shareholders to purchase new shares at A$3.80 each, the same price as a prior institutional placement. Due to the high demand, applications over A$10,000 will be scaled back to meet the A$20 million cap. The new shares are set to begin trading on the ASX on April 9, 2025. This successful capital raising reflects strong shareholder support and positions Austal to continue its strategic initiatives in the shipbuilding industry.
More about Austal Limited
Austal Limited is a global shipbuilder and defense prime contractor based in Australia, specializing in the design, construction, and maintenance of advanced commercial and defense vessels. With over 35 years of experience, Austal has delivered more than 350 vessels to 122 operators in 59 countries. It is Australia’s largest defense exporter and the first ASX-listed shipbuilder, with shipyards in Australia, the USA, the Philippines, and Vietnam, and service centers worldwide. Austal is renowned for its monohull, catamaran, and trimaran platforms, and is the world’s largest aluminum shipbuilder, also producing conventional and autonomous ships in steel and aluminum.
YTD Price Performance: 22.37%
Average Trading Volume: 6,512
Technical Sentiment Signal: Strong Sell
Current Market Cap: $1.07B
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