Initial Public Offering for DRA Global Limited
DRA Global Limited (ASX/JSE: DRA) is a diversified global engineering, project delivery and operations management company. Following an IPO to raise $11.7million, DRA recently listed on the Australian Securities Exchange (ASX) and the Johannesburg Stock Exchange (JSE).
Founded in South Africa in 1984, DRA set up an Australian office in 1997 and moved its corporate headquarters to Perth in 2018. The company now has 4,500 employees working across 20 offices worldwide.
Taking advantage of favourable commodity market conditions driving demand, DRA has secured more than $600 million of new project and operations work in the first half of CY21, raising the company’s P1 pipeline up more than 10% since the IPO Prospectus.
BDO’s Corporate Finance team led by Sherif Andrawes was engaged by DRA Global to act as Investigating Accountant working with the BDO Tax team led by Will Campbell and the BDO Audit team led by Neil Smith. BDO South Africa also acted as South African Independent Reporting Accountant for the JSE.