“Strong early demand” for Adelaide additive manufacturing startup’s IPO

Additive manufacturing technology business AML3D is pushing ahead with its plan to list on the ASX next month and raise $9 million to fund its expansion in Australia and overseas.

AML3D is commercialising wire arc additive manufacturing, which combines welding and robotics to create free-from, near-net shape parts, which are then finished through further machining. It has focussed on the marine market so far, and has a facility in Singapore, a major global shipping hub, as well as in Adelaide.

The company said in a statement that it plans to list on March 26 under the ticker code AL3, raising $9 million through 45 million New Ordinary Shares at 20 cents per share.   

“We are very pleased by the strong early demand for the Company’s IPO and are excited in the future growth of wire arc additive manufacturing,” said founder and managing director Andy Sales. 

“AML3D is focused on continuing to deliver its customer value proposition through the rapid build and deployment of large-scale 3D printed metal components.”

The lead manager is Foster Stockbroking and AML3D’s IPO corporate adviser is Adelaide Equity Partners. A prospectus was lodged with ASIC on February 10.

The raise will fund investment in and relocation of the company’s Adelaide factory, establishment of the Singapore site, and development including in integrated machining for its AM technology.

The read more about AML3D’s background and its plans, see this @AuManufacturing interview with Sales from January.

Picture: Keryn Stevens/AAP

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