Cleantech business Hazer Group and marine technology manufacturer VEEM have raised a combined $13 million from share placements to fund research and development initiatives.
Recently listed marine technology company VEEM has flagged gross profit in line with expectations, but expects to report a smaller net result than what was forecast in its prospectus, on the back of a one-off cost.
Three local businesses have been inducted into Family Business Australia's hall of fame, including an electrical contractor established in 1920, a fertiliser supplier and an engineering business that recently listed on the ASX.
Marine-focused engineering business VEEM has enjoyed a solid debut on the ASX today, with shares closing 20 per cent higher on its initial public offering price.
SPECIAL REPORT: The stock market's appetite for new listings is allowing a range of companies, from family-owned engineering firm Veem to big national player Alinta Energy, to raise capital.
Marine manufacturing firm VEEM has raised $25 million from its initial public offering, with its stock expected to start trading on the ASX later this month.
Engineering business VEEM is forecasting strong growth in revenue in the current financial year but a fall in profit, the family owned company has disclosed in the prospectus for its $25 million initial public offering.
