Sapex Group Ltd - IPO Expressions of Interest

On completion of the current PT SAS acquisition, SAPEX will have consolidated the entire DURA-BASE mat inventory within Indonesia, in addition to holding the exclusive DURA-BASE distribution license as part of their transition from an agency business model towards an owner and operator model.

PT SAS has acted as the Indonesian agent for the DURA-BASE matting business since 2002 and has generated in excess of AU$20 million in revenue from the mats since 2015.

Sapex is expected to complete the purchase of PT SAS before the end of Q4 2018 and once finalised, it brings significant value and scale to the business.

On 24th September, it was announced that SAPEX Group has determined that an ASX listing is to be pursued, with a target completion date of late Q4 2018.

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