Adelaide based, advanced manufacturer, AML3D has opened its A$9m initial public offering (IPO) with strong demand, receiving significant expressions of interest from retail and institutional investors.
The Company has engaged Foster Stockbroking to act as Lead Manager and Adelaide Equity Partners to act as Corporate Advisor to the IPO.
The offer of shares under the IPO (Offer) is made under the Company’s IPO prospectus lodged with ASIC on 10 February 2020 (Prospectus) and anyone wishing to subscribe for shares under the Offer will need to complete the application form that will be in or will accompany the Prospectus.
The purpose of the Offer and ASX listing is to facilitate and accelerate AML3D’s growth strategy. Proceeds from the IPO will be utilised to increase the Company’s capacity to service strong domestic and international customer interest and expand into new markets, via the establishment of a Singaporean facility and the relocation and expansion of the Adelaide facility. Additionally, funds will be applied to the development of integrated machining to enhance the Company’s existing technology, and intellectual property protection.
To this point, AML3D has funded the development and commercialisation of its wire arc additive manufacturing technology, an innovative metal additive manufacturing technology for the cost-effective production of large, high performance metal components and structures. These large-scale metal 3D printing services are highly sought after by many industries globally, with AML3D’s initial target markets being, defence, maritime, aerospace and mining.
AML3D’s managing director Andrew Sales said: “We are very pleased by the strong early demand for the Company’s IPO and are excited in the future growth of wire arc additive manufacturing. AML3D is focused on continuing to deliver its customer value proposition through the rapid build and deployment of large-scale 3D printed metal components.”
Source: AML3D Media Release 18 Feb 2020. (PDF) MEDIA RELEASE
About AML3D Limited
AML3D (ASX:AL3) is an Australian public company redefining the standards of productivity. Incorporated in 2014, AML3D utilises 3D printing to solve complex challenges with metallurgy, patented WAM® process, proprietary software WAMSoft® in order to create certified, industrial products more sustainably. AML3D provides additive manufacturing on demand services in contract manufacturing centres and is the original equipment manufacturer of Arcemy®, world’s first large ‘production ready’ metal 3D printers that utilise locally sourced materials to create high performance products at the location of use.
About ST Engineering
ST Engineering is a listed integrated engineering group in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $7.9bn in FY2019 and is ranked amongst the top 50 defence companies in the world.