16.02.2010

Boom completes share sale

Australian based crane and access company Boom Logistics has completed its capital fund raising exercise.

The company has raised a total of A$87 million ($77.2 million) since November, with the new share offer being significantly oversubscribed.

Chief executive Brenden Mitchell said: "We are very appreciative of the continued strong support of our shareholders. The resultant reduced debt and strengthened balance sheet position mean that Boom is now well positioned for its upcoming project pipeline and to take advantage of future growth opportunities."