Jun 15, 2026 – 12.52pmSouthern Cross Electrical Engineering, the 48-year-old contractor riding high on the data centre boom, had little trouble getting its $150 million share placement off the ground.On Monday afternoon, fund managers were told SCEE’s brokers had priced the raising at $4 per share. It comes after Macquarie Capital and Barrenjoey Capital Partners launched a variable price bookbuild with a $3.85 floor price, or 4.2 per cent discount to the last close, after Street Talk revealed the potential deal on Sunday. Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Electrical contractor SCEE gets its $150m raise at razor-thin discount
Southern Cross Electrical Engineering, which counts DigiCo and NextDC as clients, launched the cash call in tandem with upgrading EBITDA guidance for 2025-26.
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