An update from FBR Limited ( (AU:FBR) ) is now available.
FBR Limited has successfully raised A$6.3 million through a placement supported by both Australian and international investors. The funds will be used for working capital, restructuring, and development costs as the company undertakes a cost rationalization program aimed at reducing annual costs by approximately 70%. This includes significant reductions in headcount and director salaries, as well as consolidating facilities. FBR is also actively pursuing opportunities in the US market and engaging with strategic advisors to maximize shareholder value. The company is focusing on monetizing its intellectual property and exploring adjacent applications for its technology, with ongoing discussions in the steel, energy, and construction industries.
More about FBR Limited
FBR Limited is a robotic technology company based in Western Australia, specializing in advanced construction robots. The company focuses on developing and deploying robotic solutions for the construction industry, leveraging its extensive intellectual property portfolio to create innovative products like the Hadrian X® robotic bricklaying system.
YTD Price Performance: -40.0%
Average Trading Volume: 394,849
Technical Sentiment Signal: Buy
Current Market Cap: $54.15M
For detailed information about FBR stock, go to TipRanks’ Stock Analysis page.