GR Engineering launches US$71.2M raise, its first since 2011 IPO
What's the deal? GR Engineering ServicesDealroom has a profile for this one. Try Dealroom → (ASX:GNG) has launched an equity raise of up to US$71.2M, its first since listing in 2011. The offer combines an institutional placement of up to US$64.7M and a share purchase plan targeting US$6.47M, both priced at US$3.95 per share.
Why now? The Australian engineering firm is forecasting FY27 revenue of between US$53.1M and US$550M, up as much as 72% on the US$319M it recorded in FY26. It says over 90% of the top end of that forecast is already locked in by contracted projects.
What's the endgame? Proceeds will fund the execution of those contracted projects and support potential future acquisitions.
The numbers: GR Engineering delivered FY26 EBITDA of US$40.8M on a steady margin. It lifted its final dividend to 13 cents per share, taking total FY26 dividends to 25 cents, fully franked. Shares held at US$4.08 after the announcement.
Diversifying the pipeline: The company said more than 60% of forecast FY27 revenue will come from commodities other than gold. That marks a shift for a business long tied to gold-sector construction.
The signal: At US$71.2M, the raise sits above roughly 95% of all post-IPO equity rounds among Australian energy companies. For a firm that spent 15 years without tapping shareholders, it signals confidence in a contracted backlog — and appetite to grow through deals.
Read more: grafa.com
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