Calibre Group Debut on ASX

August 1, 2012 — Calibre Group Limited (ASX: CGH) to debut on the ASX on Thursday 2 August 2012 at 12pm (EST), following oversubscribed $75 million IPO.


  • Calibre Group Limited to debut on ASX on Thursday 2 August at 12pm (EST) – $75 million IPO oversubscribed.
  • Implied market capitalisation of $477.9 million at the Offer price of $1.63 per share.
  • Pro Forma Forecast FY2013F revenue of $715 million and EBITA of $89 million.
  • A leading provider of integrated engineering and project delivery services to the Australian bulk commodity markets; market leader in Australian heavy haul rail; and Program manager to blue chip resource sector clients.
  • No bank debt post the IPO and ideally positioned to capitalise on growth opportunities.
  • Pro forma EPS of 10c per share in FY 2011, forecast to grow to 20.3c per share in FY 2013.
  • First dividend to be paid in April 2013, with target dividend payout ratio of 55% to 65% of NPATA.
  • No sell down by existing shareholders who retain substantial holdings under voluntary escrow.

Calibre Group Limited (“Calibre” or “the Company”) (ASX: CGH), a leading provider of integrated engineering and project delivery services to the resources and infrastructure markets, is expected to commence trading on the ASX on Thursday 2 August at 12pm (EST) following completion of its $75m IPO.

The Company has an implied market capitalisation of $477.9 million at the Offer price of $1.63.

The Offer comprised a Broker Firm Offer, a Personnel Offer and an Institutional Offer.

Calibre Chairman Ray Horsburgh said investor support for the IPO was a strong endorsement of Calibre’s underlying business, and its growth trajectory.

“We are grateful to our new shareholders for their strong support in the IPO process and look forward to continuing to implement and build on our growth platform to increase shareholder value,” Mr Horsburgh said.

Calibre Managing Director Rod Baxter commented that the IPO means that Calibre is now well positioned to pursue its future growth opportunities.

“We have a unique, low risk, high margin business model, with no bank debt post the IPO, and with access to a $150 million acquisition facility. I am looking forward to continuing to implement our strategy of growing our core businesses, expanding our geographic presence and market sector reach, and developing new products and services,” Mr Baxter said.

Calibre’s existing shareholders are not selling any shares in the IPO, are subject to voluntary escrow, and will retain significant stakes in the business post listing. U.S. energy and infrastructure investment group First Reserve Corporation retains a 60.9% holding, and company founder Ray Munro retains an 11.6% holding.

Key Statistics

Offer Price


Total number of shares offered under the prospectus

46.0 million

Total cash proceeds to Calibre from the Offer

$75 million

Total number of shares on issue following the Offer

293.2 million

Market capitalisation at the Offer Price

$477.9 million

Price/earnings multiple at the Offer Price (Net Profit before Amortisation) (FY2013F)

8.0 x

Implied FY2013F dividend yield at the Offer Price

7.5 %


Indicative Timetable*

Thursday 2 August 2012

Allocations advised & Settlement

Thursday 2 August 2012 (12pm EST)

Trading commences on deferred settlement basis

Friday 3 August 2012

Expected dispatch of shareholder statements

Tuesday 6 August 2012

Trading commences on normal basis

* This timetable is indicative only and may change.

Shareholder enquiries

For any enquiries in relation to shareholdings, please contact Calibre’s share registry, Link Market Services, on 1300 554 474 or if you are calling from overseas, +61 2 8280 7111.

For media and investor enquiries please call:

David Brook
Group Manager, Investor Relations & External Affairs
Calibre Group Ltd
T: +61 8 9265 3000
M: +61 415 096 804

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