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Boom Logistics rushed

NATIONAL crane company Boom Logistics has closed its initial public offering on schedule and over-subscribed.

It has successfully raised $27 million by offering 33.75 million shares at 80 cents each and plans to follow its plan of become Australia’s premier lifting company.

The offer comprised a mix of 26.25 million new shares and a sell-down of 7.5 millions shares held by existing stakeholders.

The total offered shares represent 37 per cent of the expanded capital of the business.

Boom is expected to list on the Australian Stock Exchange on October 14.

The issue was fully underwritten by Wilson HTM Corporate Finance and Bell Potter Securities Limited.

Boom has strong links to WA through its acquisition of the Brambles operation and lifting company Uniway.

 

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