- AVADA Group (AVD) will begin trading on the ASX on December 17 following admission to the Official List on December 15
- The company raised more than $32.5 million under its IPO through the issue of more than 32.5 million share at $1 each
- AVADA is a leading independent traffic management operator providing services to government clients and contractors in the infrastructure and maintenance sectors
- AVADA has forecast $146.6 million in pro forma revenue and $15.5 million in pro forma earnings before interest, taxes, depreciation and amortisation (EBITDA) in FY22
- The company will be led by Lance Hockridge as Non-Executive Chairman, Dan Crowley as Managing Director and CEO, and Paul Fitton as Chief Financial Officer
AVADA Group (AVD) will begin trading on the ASX on December 17 following admission to the Official List on December 15.
The company raised $32,542,609 under its IPO through the issue of 32,542,609 shares at a price of $1 each.
AVADA is a leading independent traffic management operator and ancillary service provider. It has an established and extensive network throughout Queensland and NSW.
The company provides services to government clients and major contractors in the civil infrastructure and maintenance sectors.
In FY19, AVADA reported statutory revenue of $95.2 million, before bumping that figure to $117.7 million in FY21.
Furthermore, the company recorded statutory gross profit of $22.3 million in FY19 and $25.4 million in FY21.
AVADA has forecast $146.6 million in pro forma revenue and $15.5 million in pro forma earnings before interest, taxes, depreciation and amortisation in FY22.
The company will be led by Lance Hockridge as Non-Executive Chairman, Dan Crowley as Managing Director and CEO, and Paul Fitton as Chief Financial Officer.
Non-Executive Chairman Mr Crowley gave some insight into the company.
“AVADA Group will offer integrated traffic management services including planning and permit, traffic control, equipment hire, event management and emergency services,” Mr Hockridge said.
“Traffic management services are essential to all civil infrastructure and maintenance service providers.”