RA International Group PLC (LON:RAI), a leading provider of services to remote locations in Africa and the Middle East, has today announced the admission today of its Ordinary Shares to trading on the AIM Market of the London Stock Exchange .
Highlights
- Dealings in the Ordinary Shares will commence today under the TIDM “RAI” with the ISIN GB00BDZV6W26
- Placing of 33,575,741 new Ordinary Shares at 56 pence per share (“Placing Price”) raising gross proceeds of £18.8 million for the Company
- Placing undertaken by Cenkos saw demand from a wide range of high quality institutional investors
- The Company’s market capitalisation as at Admission, based on the Placing Price, is £97.2 million.
Soraya Narfeldt, CEO of RA International, commented: “The AIM Admission today is a significant milestone for RA International and strongly positions the Company to accelerate its growth plans. We are delighted with the backing shown by a wide number of high quality institutional investors and we thank them for their support.
“RA International is very well positioned in the support services market and there are significant opportunities for growth which we intend to capitalise on. We very much look forward to life as a public company and to updating the market on our continued progress in the months and years ahead.”
Background to the Company
RA International specialises in five service verticals: construction; integrated facilities management; operation and maintenance; accommodation; and supply chain services. RA International provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services.
RA International’s expertise in this area aids in the progression of peacekeeping, humanitarian and commercial projects. The Company is now recognised as a leading provider of remote construction and support services in Africa. The Group has a strong customer base, largely comprising UN agencies, western governments and global corporations and it has been a signatory, participant and contributor to the UN Global Compact. The business is headquartered in Dubai, in the UAE and has 14 years of operational knowledge with a culturally diverse and multi-lingual workforce of over 1,600 people.
In 2017, RA International generated revenue of US$53.3 million (2016: US$36.8 million) and profit for the year of US$13.7 million (2016: US$5.0 million). As at 30 April 2018, the Group had identified new contract opportunities for existing and new clients or received request for tenders which it was considering worth US$2 billion over the next three years. As at 30th April 2018, the Group has had a contracted backlog of US$120 million. To date, the Company has successfully delivered over US$400 million of projects in over 10 countries.
