30/11/2007 - 13:04

LogiCamms closes $10m IPO early

30/11/2007 - 13:04

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West Perth-based LogiCamms Ltd has announced the early closing of its Initial Public Offering of 10 million shares at $1.00 per share.

LogiCamms closes $10m IPO early

West Perth-based LogiCamms Ltd has announced the early closing of its Initial Public Offering of 10 million shares at $1.00 per share.

The Offer was fully underwritten by Bell Potter Securities Limited, and closed oversubcribed.

LogiCamms' Managing Director Adam Keats said he was delighted with the strong support shown for the company.

"We have received strong support from several institutions and sophisticated investors during the offer period and are very pleased to welcome them and all retail investors to our share register," he said.

The company expects to be listed on the ASX on 11 December, 2007 in accordance with the timeline published in the prospectus.

"We look forward to our official listing on the Australian Stock Exchange and working to generate value for all shareholders."

LogiCamms, a merger of Logitech and Camms, was established to create a significant national electrical engineering and control systems company servicing the resources, energy and utilities and other manufacturing and processing sectors.

The company currently provides extensive electrical engineering services along with specialised design, implementation and support of control systems.

This work is highly specialised and involves the understanding and integration of multiple system components to deliver a fit for purpose control solution which reliably and efficiently delivers on clients operational needs.

LogiCamms works both directly with its customers and also as a sub-contractor to various engineering consultants, constructors and original equipment manufacturers.

LogiCamms Ltd has offices in Perth, Brisbane, Adelaide, Gladstone and Whyalla.

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