- Trajan Group Holdings raises $90 million in an Initial Public Offering (IPO)
- Strong investor demand attracts top tier Australian, Asian, UK and NZ institutions
- 300+ employees participate via employee gift and employee stock ownership plan (ESOP)
- Listing confirmed for today, June 7, 10.30 am AEST
Global analytical science and device company Trajan Group Holdings will list today on the Australian Securities Exchange (ASX) with the ticker code TRJ after successfully raisING $90 million via an Initial Public Offering (IPO).
The company said demand for shares significantly exceeded the size of the offer, with strong participation from top tier institutional funds from Australia, Asia, UK, and NZ.
Trajan Chief Executive Officer and Founder Stephen Tomisich said: "The response is a strong validation of the substance and strength of the Trajan business today and its prospects for tomorrow.
"Being purpose-led, with a focus on delivering impact has brought us to this pivotal point in the company’s journey.
"The potential of what comes next, driven by the same factors but with the backing of the broader investment community, is truly exciting.”
As well as raising $90 million from external investors, Trajan undertook an employee gift offer and employee stock ownership plan (ESOP).
This will result in more than 300 Trajan employees becoming stakeholders in the business upon Trajan listing on the ASX.
Trajan was founded in 2011 with a goal to build a scientific business that could deliver impact and benefit people.
Today Trajan has operations in Australia, Europe, US, and Asia, with four dedicated precision manufacturing facilities in Australia, Malaysia, and US, and a workforce of more than 450.
The company is a global developer and manufacturer of analytical science instruments, devices, and solutions used in biological, food and environmental analysis.
Trajan’s products are used across the analytical workflow and have broad life science applications including pharmaceutical, clinical diagnostics and pathology.
The company’s long-term customers and partners included global blue-chip companies including original equipment manufacturers (OEMs), pharmaceutical companies and contract research organisations.
Trajan has experienced significant growth and is expected to achieve revenue of $82.5 million in FY22, 90 per cent of which is generated through export markets.
It is entering its next phase of growth with a deep technology commercialisation pipeline and globally identified acquisition targets, providing significant upside potential to the strong underlying existing consumable and components business.
The company has a strong acquisition record, having completed six complementary acquisitions which have all been self-funded. A seventh acquisition, MyHealthTest, was completed on May 5, 2021.
Trajan is led by founder and Chief Executive Officer Mr Tomisich and Independent Non-Executive Chairman John Eales.
Company shares will hit trading today, June 7, at 10.30 am AEST.