FDC targets $400m IPO on ASX at $3

• FDC Consolidated Holdings (ASX:FDC) plans to raise $400 million via an IPO at $3.00 per share
• The offer implies a A$969 million market capitalisation, with 41 per cent of shares to be sold and existing holders retaining about 60 per cent
• FDC says the float will fund growth and broaden ownership as it pursues a pipeline of about A$2.4 billion of work in hand

FDC Consolidated Holdings (ASX:FDC), the holding company for national construction and fitout business FDC, has lodged its IPO prospectus with ASIC and applied to list on the ASX, targeting a $400 million raising through the issue of 133.6 million fully paid shares at $3.00 each for an implied market capitalisation of $969 million at listing.

The company, founded 36 years ago and employing more than 720 people, generated about $1.5 billion of revenue in FY25 and has forecast revenue to grow to roughly $1.9 billion in FY27, supported by approximately $2.4 billion of work in hand as at 30 April 2026 and a strategy focused on disciplined organic growth in Australia.

“After carefully considering a range of options, we believe an IPO is the right path for FDC,” said FDC Founder and Chairman Ben Cottle.

FDC states that existing shareholders will retain around 60 per cent of shares post‑listing, and highlights repeat work from major clients, a scalable delivery model and a network of subcontractors and suppliers as key factors supporting its project pipeline across industrial, logistics, commercial, data centre, education and public infrastructure sectors.

The business is led by Managing Director Russell Grady, who will become CEO of the listed entity, with Andrew Kearney as Chief Financial and Operating Officer, and the new board will include founder‑chair Ben Cottle, non‑executive director Blake Cottle and independent non‑executives Philippa Stone, John Whiteman and Ryan Arrold.

Following the announcement the FDC Consolidated Holdings (ASX:FDC) IPO timetable remained unchanged, with the company expecting to commence trading on the ASX on Thursday 9 July 2026 subject to ASX approval and completion of the offer under the lodged prospectus.

FDC cites a 36‑year track record of delivering projects such as The Cutaway at Barangaroo, Sydney Swans HQ, Macquarie University’s Michael Kirby Law School and multiple Macquarie Data Centres, and says its relationship‑led “Made Personal” operating philosophy and $14 million in cumulative community contributions will continue to underpin client engagement as it transitions to public ownership.