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Symal Group Limited (“Symal”, “SYL” or the “Company”), a founder-led, self-performing Australian construction group, proudly announces a fully underwritten initial public offering of approximately 73.5 million fully paid ordinary shares in the Company ("Shares") at a price of $1.85 per share (“Offer Price”) to raise approximately A$136.0 million (the “Offer”).
Symal specialises in civil infrastructure and offers a comprehensive range of services, including contracting, plant and equipment hire, material sales, recycling, and remediation.
Utilising a vertically integrated project delivery model, Symal Group provides end-to-end civil construction solutions across the entire project lifecycle through its four main brands: Symal, Sycle, Unyte, and Wamarra.
The Offer comprises an offer to institutional investors in Australia and certain other jurisdictions around the world, and an offer to select retail investors in Australia and New Zealand.
The Offer is fully underwritten by Jarden Australia Pty Ltd.
The Board, senior management and existing substantial shareholders will represent approximately 69.0% of SYL’s ownership.
Trading in Shares on the ASX is expected to commence initially on a conditional and deferred settlement basis, under the ticker 'SYL'.
Joe Bartolo, Founder and Group Managing Director said:
“From humble beginnings over two decades ago, with a borrowed wheelbarrow full of ambition we laid the groundwork for Symal, which has since grown into a united construction group with over 1,000 staff operating across four states.
Key to our success to date has been our people, backed up by the stability and experience of the leadership team. We are aimed at building a business grounded in hard work, integrity, and a commitment to excellence.
Together with Executive Directors Andrew Fairbairn and Ray Dando, CEO Nabeel Sadaka and our long-standing senior management team, we’ll continue to lead the Company through this exciting period of growth and are deeply committed to the long-term vision and success of the Symal Group.
The Company’s Board consists of Chair Peter Richards, Independent Non‑Executive Directors Ken Poutakidis, Anne Lockwood and Shane Gannon and Executive Directors Andrew Fairbairn, Ray Dando and me.
We are extremely proud of our past achievements, and we look forward to continuing on this amazing growth journey that I started 23 years ago."
Chairman Peter Richards said:
“Symal intends to continue delivering strong growth by leveraging its current market positions and end market exposures, the competitive advantages offered by its vertically integrated business model and executing on organic and inorganic investment opportunities assessed against a disciplined returns framework."
Jarden is acting as Sole Global Coordinator, Joint Lead Manager and Underwriter.
K&L Gates is acting as legal adviser.
Symal Group Limited's IPO Prospectus dated 11 November 2024 has been registered with ASIC (“Prospectus”). You may obtain a copy of the Prospectus at the offer website, www.symal.com.au/symal. The Offer of Symal Group Limited's Shares is made under the Prospectus, and you should read the Prospectus in full before considering whether to subscribe for Shares in Symal Group Limited. If you wish to subscribe for Shares in Symal Group Limited, you will need to complete the application form provided with or accompanying the Prospectus. You are strongly encouraged to obtain your own independent financial, commercial, tax and legal advice in considering the Offer under the Prospectus.
Capitalised terms not defined in this document have the same meaning as in the Prospectus.
For media queries please contact:
Renee Ryan Group Marketing and Communications Manager renee.ryan@symal.com.au 0405 983 755
IMPORTANT NOTICES
This document and the Prospectus contain certain forward-looking statements and comments about future events, including the Company’s expectations about the performance of the Company’s businesses and growth strategy, as well as expected trends in the industry sectors in which the Company currently operates and estimates and forecasts of the Company’s potential total addressable market and market share.
Forward-looking statements can generally be identified by the use of forward-looking words such as ‘expect’, ‘anticipate’, ‘likely’, ‘intend’, ‘should’, ‘could’, ‘may’, ‘predict’, ‘plan’, ‘propose’, ‘will’, ‘believe’, ‘forecast’, ‘estimate’, ‘target’ and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking statements will not be achieved.
A number of important factors could cause the Company and the Group’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, and many of these factors are beyond the Company and the Group’s control. Forward-looking statements are provided as a general guide only, should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainty and other factors, many of which are outside the control of the Company and the Group. As such, undue reliance should not be placed on any forward-looking statement.
Past performance is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward-looking statements, forecast financial information or other forecast. Nothing contained in this document, nor any information made available to you is, or shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of the Company and the Group.
This document is not, and does not constitute, an offer to sell or the solicitation, invitation, advertisement or recommendation to purchase any securities or other financial products in any jurisdiction and neither this document nor any of the information contained herein shall form the basis of any contract or commitment.
No financial product advice is provided in this document, or the documentation related to the Prospectus, and nothing in this document or related documentation should be taken to constitute a recommendation or statement of opinion that is intended to influence you in making a decision to participate in the Offer. This document does not take into account your objectives, financial situation or needs and any advice is general advice only. Before acting on the information contained in this document or making a decision to participate in the Offer, you should seek professional advice (including financial product advice from an independent person licensed by ASIC to give such advice) as to whether participation in the Offer is appropriate in light of your own circumstances. The decision whether to
participate is yours to make, having regard to your own personal circumstances and any independent advice you require. The Company is not licensed to provide financial product advice in respect of Shares in the Company and no cooling off period applies in respect of an acquisition of Shares in the Company.
The information in this document remains subject to change without notice. No responsibility or liability is assumed by the Company, its related bodies corporate or any of their respective officers, employees, advisers and agents for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or misdescriptions of which any member of that group may become aware.
Full details about the Offer are contained in the Prospectus dated 11 November 2024 issued by Symal Group Limited (ACN 615 255 466).
The Prospectus is available in electronic form to Australian residents on the Company’s offer website, www.symal.com.au/symal. The Offer constituted by the Prospectus in electronic form is available only to Australian and New Zealand residents accessing the website within Australia or New Zealand and is not available to persons in any other jurisdictions, including the United States. A hard copy of the Prospectus is available free of charge during the offer period to any person in Australia or New Zealand by contacting the Share Registry on 1300 271 816 (within Australia) or +61 3 9415 4860 (outside Australia) between 8:30am and 5:00pm (Sydney time), Monday to Friday during the offer period, excluding national public holidays.
Applications for Shares may only be made on the Application Form attached to, or accompanying, the Prospectus in its hard copy form, or in its soft copy form available online at www.symal.com.au/symal together with an electronic copy of the Prospectus. The Corporations Act prohibits any person from passing the Application Form on to another person unless it is attached to, or accompanied by, the Prospectus in its paper\copy form or the complete and unaltered electronic version of this Prospectus. A person should consider the Prospectus in deciding whether to acquire Shares in the Company.
