Perth-based power and telecommunications contractor GenusPlus Group has listed on the ASX, following a successful initial public offering that valued the company at $148.6 million.
Belmont-based GenusPlus Group has launched a $32.8 million initial public offering, with the power and telecommunications contractor planning an ASX listing in December.
Growing investment in telecommunications has created opportunities for the contractors that build the networks, including Cape, Diamond Underground and Streamline Connect,
Wangara-based contractor Duratec has launched Western Australia's largest initial public offering this year, adding to a flurry of WA companies aiming to list on the ASX.
Privately-owned contractor GenusPlus Group has completed its fifth acquisition in the space of two years, confirming today it has bought EC&M out of administration with plans to retain a small group of key staff to help rebuild the business.
Ausdrill has announced plans to sell its telecommunications subsidiary to private group Powerlines Plus (now part of GenusPlus Group), while also agreeing to take a majority stake, along with other investors, in mining technology company HiSeis.