Primero launches $25M IPO

LITHIUM plant build specialist Primero Group has lodged a prospectus with ASIC for a A$25 million initial public offering.

Primero launches $25M IPO Primero launches $25M IPO Primero launches $25M IPO Primero launches $25M IPO Primero launches $25M IPO

Primero Group onsite at Mt Cattlin

The company is offering up to 62.5 million shares at 40c each to raise $25 million, including 40 million new shares and 12.5 million shares to be sold by existing shareholders.

IPO subscribers will hold around 43.8% of the company following the offer

The IPO is being lead managed and fully underwritten by Canaccord Genuity.

Primero was formed in 2011 and employs 320 people across offices in Perth, Port Hedland and Montreal.

Primero generated revenue of $52.1 million, up by 58.3% year-on-year, and EBITDA of $2.6 million in the 2017 financial year.

For the 2018 financial year, the company has forecast revenue of $79.9 million, pro-forma EBITDA of $8.6 million and a pro-forma net profit after tax of $4.7 million.

Current clients of Primero...

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