Master Drilling plans JSE listing
Master Drilling Group, a company incorporated in South Africa, intended to list on the main board of the JSE, it said yesterday.
It said it would list its ordinary shares and raise capital through the private placement of ordinary shares with selected eligible investors.
Master Drilling, founded in 1986, is a global leader in raise bore drilling used in underground mining.
It designs, makes, operates and maintains its own drill rigs and owns 154 drill rigs.
The company has a database of blue chip clients in Africa, Latin America, Europe and the Middle East. Revenue for the year to December 2011 was $94.6 million (R822m), of which more than half is derived from Africa. – Asha Speckman