Fastbrick Robotics debuts on ASX

Perth-based Fastbrick Robotics has wrapped up its first day of trading on the ASX after completing a $5.75 million capital raising.

Fastbrick, which owns its Hadrian 105 prototype robot that is capable of doing the work of a bricklayer, allotted 287.5 million shares to investors at 2 cents each to raise the funds.

The offer was oversubscribed by $750,000. 

The company opened at 2.9 cents a share and got to as high as 3 cents, before closing at 2.7 cents each on its first day of trading.

The capital raising was part of a backdoor listing of Fastbrick through shell company DMY Capital.

The company’s board consists of Shannon Robinson as chair, Michael Pivac as chief executive officer, Mark Pivac as chief technical officer, and Gabriel Chiappini as non-executive director.

Fastbrick’s Hadrian 105 robot uses 3D computer-aided-design to calculate the location of every brick and lay the bricks in the required sequence.

Motar is delivered to the robotic laying head has the bricks are put in place, with laser alignment systems telling the robot where to place the bricks in exactly the right spot.

You can view the Hadrian 105 in action here.