Calibre lodges IPO prospectus with ASX

Engineering group Calibre has lodged its prospectus for its $75 million initial public offering, the largest in Australia this year.

The IPO, priced at $1.63 per share, puts a $478 million value on the company.

Chairman Roy Horsburgh said the lodgement of the offer was a significant milestone for Calibre.

It provides Calibre with access to equity capital markets, which will be important as Calibre pursues its growth strategy, assists the company in attracting and retaining high quality personnel and also provides an opportunity for existing personnel to invest in the business,” Mr Horsburgh said.

The IPO is being coordinated by Goldman Sachs, with UBS Australia also working as joint lead managers and underwriters to the offer. Calibre’s legal adviser is Freehills.

Calibre managing director Rod Baxter said the IPO had Calibre well placed to pursue future growth opportunities.

“Calibre’s balance sheet will be net cash post the IPO and accordingly, the Company is ideally positioned to capitalise on growth opportunities and to strengthen its position as a leading provider of engineering and project delivery services to bulk commodity markets,” Mr Baxter said.

Calibre expects to start trading on the ASX by August 6.