The CEO Sy Van Dyk stressed many times in his first Asx interview that the reason DDH went public is to keep growing their drilling business through organic channels and via M/A acquisitions. Certain portion of the funds raised goes towards paying off their debt, so they can keep buying more businesses (bought Strike and Range Drilling already) to increase their economies of scale and to enhance their profitability.
He said despite being the market leader (!) in surface drilling, they still can grow towards niche areas such as underground or water well drilling. DDH currently owns c.a. 100 rigs out of the 850 odd rigs operational in Australia and those 100 rigs are fully booked for a fairly long time in the future. They have been profitable in each and every year since 2006, which is pretty impressive I believe.
Most large and/or market leader companies are publicly listed not just in Australia, but in many other developed countries as well, so I am not sure why anyone would be worried about the fact that they went public recently.
Interview in the below link:
https://youtu.be/66l1F0fOStI
The CEO Sy Van Dyk stressed many times in his first Asx...
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