- Engineering, procurement and construction services company Aerison Group (AE1) is aiming to raise $13 million in its initial public offering (IPO)
- The company is hoping to list on the ASX in early July
- Funds from the IPO will be used as working capital to allow Aerison to fund future growth opportunities
- Aerison is aiming for a $61 million valuation
Aerison Group (AE1), previously HVAC Process Engineering, is gearing up to list on the Australian Securities Exchange in early July.
The company is aiming to raise $13 million in its initial public offering (IPO), offering shares at 20 cents each.
Funds from the IPO will be used as working capital to allow Aerison to fund future growth opportunities.
Notably, late last year the company raised $3 million in a pre-IPO and is aiming for a $61 million valuation.
Founded in 1988, Aerison is an engineering, procurement and construction services company. The business was bought by CEO Giuseppe Leone and Daniel Hibbs in 2016.
Over FY20, the company achieved a revenue of over $100 million, a 26 per cent growth from 2019. This financial year the company is forecasting revenue of $130 million.
Aerison has an order book totalling $300 million of which $97 million is expected to be undertaken in the 2021 financial year.
Listing on the ASX will provide Aerison with access to capital markets and enhance its reputation throughout the engineering, procurement, construction, mining and energy industries.