Integrated services solutions company TEK-Ocean Group Limited (ASX: T3K) has commenced trading on the ASX under the code T3K after successfully raising approximately $6.6 million in its Initial Public Offering (IPO). Sanlam Private Wealth Pty Ltd was the Lead Manager of the IPO.
Today is a significant milestone, and we are extremely pleased to now be listed as a publicly traded Australian company,” TEK-Ocean Non-Executive Chair, Brendan Brown, said.
“We look forward to growing our business further in the areas of the decommissioning and rehabilitation of legacy offshore energy projects in Australasia as well as the emerging offshore renewable energy market in Australia.
“We will continue to provide our clients with support throughout their project life cycle including engineering, subsea, marine, logistics, consultancy and specialist energy services for both offshore and onshore projects.
“Today’s listing is a testament to the commitment and professionalism of the entire TEK-Ocean team. We wish to thank Sanlam Private Wealth who led the IPO, and all of those who have assisted us in our journey.”
Founded in 2007 in Gippsland, Victoria, TEK-Ocean has grown as a provider of integrated services solutions for the energy industry.
The company’s existing clients are predominately in the offshore energy business, where TEK-Ocean deploys leading industry expertise and equipment to provide customers with a range of integrated services from project feasibility, design, manufacturing, equipment supply, delivery and through life-of-field support.
Over the last three years the company has already successfully completed two early decommissioning and rehabilitation projects in The Bass Strait.
TEK-Ocean currently employs a full-time workforce of over 40 personnel and may engage additional casuals, fixed term employees and independent contractors to service its prevailing projects.
Across its customers’ project life cycles, TEK-Ocean provides specialist energy services for both offshore and onshore projects and can be broadly categorised as follows: subsea projects, engineering and project management services; marine services; logistics and shore base services; specialist energy and offshore services; and decommissioning and rehabilitation services.
