BOARDROOM TUSSLES
Engineering group DRA botches its global expansion plan
The SA-founded and Australia-listed firm has made a complete hash of a boardroom putsch, just as mining firms fall over themselves to build new projects
09 June 2022 - 05:00
Mining engineering company DRA Global has made a splash on the Australian Securities Exchange — for all the wrong reasons.
In fact, there was more crash than splash as the firm’s share price sank to a fresh low of A$2 a share last week, representing about half the debut price — equal to R1bn — of a modest A$12m IPO a year ago. The company is listed on the JSE too — and its (illiquid) stock is now at less than R30, from last year’s debut high of R50.50. ..
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