SHAPE builds on Australian success story with ASX compliance listing

SHAPE (ASX:SHA) has marked a significant milestone in its 32-year journey of growth as a publicly listed company on the Australian Stock Exchange (ASX).

SHAPE’s Initial Public Offering (IPO) was made official this morning in a formal bell-ringing ceremony at the ASX Centre in Sydney.

The pivotal moment was attended by SHAPE’s Board of Directors and Senior Leadership Team, including SHAPE’s Chief Executive Officer, Peter Marix-Evans.

Peter Marix-Evans, CEO at SHAPE, said: “I am incredibly excited to be a part of such a momentous occasion in SHAPE’s history. To become a publicly listed company on the ASX is a feat that only a small number of companies have accomplished, so it’s an honour to be represented in this calibre.

“Over our 32 years, SHAPE has grown to one of Australia’s largest private companies in the construction services industry.  This step of transitioning from a private to a publicly listed company will not only provide a facility to our existing shareholders to trade their holdings, but also facilitate opportunities to expand our business model across new and current service offerings and expanded career paths.”

The formal IPO for SHAPE on the ASX will be listed as a Compliance Listing, which means that no capital will be raised at the outset and existing shareholders will retain their shares. This is testament to the strength of the SHAPE business and continued commitment of major shareholders. However, the listing will open up opportunities for future capital raising and investment to drive further growth in the years to come.

“To become a publicly listed company on the ASX is a feat that only a small number of companies have accomplished, so it’s an honour to be represented in this calibre.”

Despite the global pandemic, SHAPE is strongly positioned for the future and is looking to herald a new era to further boost growth initiatives, strengthen market position and create opportunities for its people.

As an additional step in its commitment to always put people first, SHAPE has gifted each permanent SHAPE employee 1,025 shares. This further cements SHAPE’s position as an employer of choice, following a win in the 2021 AFR BOSS’s ‘Best Places To Work’ earlier in the year.

Peter Marix-Evans says the milestone is a testament to his team’s hard work and he is excited about what the future holds. He said: “Above all else, the ASX listing represents a celebration of our people. We owe this accomplishment to every SHAPE employee who consistently shows up to work every day with a sense of passion and dedication, which is second to none in the industry. I am proud to share the IPO achievement with our SHAPIANS and look forward to the journey ahead.”

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