Initial Public Offering: market capitalisation of A$220m
DRA Global Limited ("DRA") is a diversified multi-disciplinary global engineering group with expertise in engineering, project delivery and operations management in the mining, metals and minerals processing industry.
Established in 1984 in South Africa, DRA has since developed a global business and in mid-2018 relocated its group head office to Perth, Australia, to better focus on expansion of its Australian and other international businesses.
To support organic and inorganic growth opportunities DRA pursued an IPO, and on 28 May 2021 lodged a prospectus offering up to 5.1 million shares at an offer price of A$3.95 per share to raise up to A$20 million.
DRA commenced trading on the ASX on 9 July 2021 with a market capitalisation of A$214 million.
Azure acted as financial adviser and managed the end-to-end process for the company.