Austal Limited ( (AU:ASB) ) has provided an announcement.
Austal Limited has announced a $200 million institutional placement to fund the expansion of its Mobile, Alabama shipyard, a critical site for the US Navy. This expansion, part of the FA2 infrastructure project, will enhance Austal’s capability to deliver large steel vessels, positioning the company for growth with a record order book of A$14.2 billion. The project, supported by both equity raising and new debt facilities, is expected to be operational by FY26 and completed by FY27, ensuring Austal’s strong market positioning and financial flexibility.
More about Austal Limited
Austal Limited is a prominent player in the naval industrial sector, focusing on shipbuilding and defense contracting. The company operates strategically across the US and Asia Pacific, with a significant presence in the US Navy and Coast Guard sectors.
YTD Price Performance: 37.25%
Average Trading Volume: 4,851
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1B
Learn more about ASB stock on TipRanks’ Stock Analysis page.