[South Africa] DRA Global lists on the JSE
The trading of DRA Global’s shares commenced on the Johannesburg Stock Exchange (JSE), giving South African investors an opportunity to invest in the diversified global engineering, project, and operations management company.
Founded in South Africa in 1984, but headquartered in Perth, Australia, DRA Global operates mainly in the mineral resources sector, where it provides end-to-end integrated engineering, project, and operations management services to customers developing and operating mining assets. The company’s primary listing is on the Australian Stock Exchange (ASX), and it also has operations across several key markets, spanning Europe, Middle East and Africa (EMEA), Asia-Pacific, and Americas.
Valdene Reddy, Director of Capital Markets at the JSE, intimated that DRA Global is the sixth company to list on the JSE this year, supporting the appeal of the Johannesburg-based bourse as a capital-raising platform. “It is always gratifying to have a home-grown company with a global reach consider the JSE as part of its growth strategy. This gives our local investors another option to consider as part of their portfolios. We congratulate DRA Global on its listing milestone and we are hopeful the listing will support its expansion phase,” he said.
DRA Global will fall under the JSE’s Engineering and Contracting Services Segment in which it will trade under the code DRA. DRA Global’s Managing Director and CEO, Andrew Naude commented that the upcoming listing has been in the pipeline for some time, forming part of the Company’s broader long-term growth strategy. “We set out to create a platform for sustainable expansion. We established our corporate headquarters in Perth and have grown our global business both organically and via strategic M&A in target markets. Listing is the next step in building out the platform as part of this long-term growth strategy. We will continue to advance our strategy and focus on controllable growth drivers while also developing further capabilities in emerging products and services,” he said.
The listing of DRA Global brings the number of listed companies on the JSE to 331 with an overall market capitalisation of over R18.75 trillion.