Racec Group

Engineering infrastructure solutions company, RACEC today started trading on
the JSE’s AltX market, with trade opening at 146 cents and shares trading to a
high of 170 cents. Approximately 28 million shares were placed, with several
South African institutions and a broad base of private investors. The private
placement attracted applications totalling more than R500 million, demonstrating
strong interest in the Group’s activities which are poised to benefit from the
ongoing investments into domestic infrastructure, both from the private and
public sectors. With its forecast revenue of R326,0 million for the year ended
30 September 2008, translating into estimated headline earnings per share of
15,9 cents, RACEC opened trade on a forward price to earnings ratio of 9,2 times.

Download RACEC Group Limited ALTX Debut Press Release here

Since inception in 1956, the RACEC name has become synonymous with the platelaying
construction industry in South Africa and in 1977 RACEC Electrification (Pty) Ltd was
added to the RACEC Group as a result of a group desire to complement its main activity
in the rail track construction field with an electrical contracting operation.
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