Austal shares reset after US expansion placement

Austal shares reset after US expansion placement

The stock opened near its $3.80 issue price before trawling $3.72, a day after the shipbuilder launched a two-pronged raising to generate $220m to fund an expansion of its flagship US shipyard.

Austal Issues Shares to Raise Capital for Alabama Yard Expansion

Austal Ltd., the Australian parent company of defense shipbuilder Austal USA, has announced a capital raise of as much as US$140 million to pay for t...

Austal locks in $200M for US steel shipbuilding expansion - Australian Manufacturing

Austal has raised AUD 200 million through an institutional placement to support the expansion of its US shipbuilding capabilities.  The placement, priced at $3.80 per share, was met with strong demand from existing shareholders and new domestic and international investors, Austal said in an ASX announcement.   Additionally, Austro Pty Ltd, an entity linked to Austal’s former chairman and current non-executive director John Rothwell, sold $50 mil…

SHIP BUILDER AUSTAL RAISES $200 MILLION FOR US EXPANSION

Allen Newton SHIP BUILDER, Austal has raised $200 million to expand its US ship building capability at its Mobile, Alabama shipyard. The capital will be used to fund the FA2 infrastructure expansion project to enable delivery of current and future pipeline of large steel vessels in the USA. A company announcement on 12 March said Austal had received strong support for the placement from both existing shareholders as well as new domestic and inte…