The Listing of DRA

DRA is a multi-disciplinary global engineering, project delivery and operations management group focused on the mining and minerals resource sector, headquartered in Perth, Western Australia.

DRA was successfully listed on the ASX and JSE on 9 July 2021.
We are proud to have been part of this journey.

Our Client

DRA is a multi-disciplinary global engineering, project delivery and operations management group focused on the mining and minerals resource sector, headquartered in Perth, Western Australia.

Solution Required

In 2017 DRA undertook a growth strategy to create a platform for international expansion while maintaining its strong foothold and brand in Africa. As part of that strategy, DRA made several acquisitions, including the acquisition of SENET in South Africa and Minnovo in Australia. DRA also had to conclude a BEE ownership transaction in South Africa and embark on a number of restructurings. Pallidus advised DRA since 2017 on these transactions. Another essential step in DRA’s international expansion strategy was to list on the ASX with a secondary listing on the JSE.

Outcome

The acquisitions assisted the DRA group in consolidating its market position in Africa and accelerated the group’s expansion in Australia, establishing the group’s corporate head office in Perth and providing a base for further organic growth in the region. These acquisitions were successfully implemented and were key milestones for the group in preparation for its listing, which will assist DRA to execute its next phase of growth. DRA successfully listed on the ASX and the JSE on 9 July 2021 with an IPO market capitalisation of R2.3bn. Pallidus advised on the JSE listing and acts as JSE sponsor for the group.

The Pallidus team have played a fundamental role in DRA’s growth strategy. Always professional and entrepreneurial in their approach, they deliver a rare combination of technical expertise and big picture thinking. It has been a pleasure working with Pallidus for the past several years and we look forward to continuing the relationship.