HiTech Group Australia Limited (ASX:HIT) announced on 16 September 2026 it has secured firm commitments for a $4 million placement. The equity raising, conducted before issue costs, is intended to support working capital following the recently completed acquisition of selected assets from Hudson Global Resources (Aust) Pty Limited and to enhance the company’s balance sheet flexibility. HiTech Group Australia Limited is a leading Australian professional services and workforce solutions provider, delivering project services, technology recruitment, ICT contracting, and specialist workforce solutions. For over 33 years, HiTech has partnered with Federal Government agencies and major private sector commercial organisations.
The placement involves the issuance of 4 million new shares at $1.00 per share to new institutional and professional investors. This offer price represents a 9.9% discount to HiTech’s last closing price of $1.11 on 11 September 2026 and a 13.3% discount to the five-day volume-weighted average price up to that date. Blue Ocean Equities acted as Sole Lead Manager and Bookrunner. Settlement is anticipated on Tuesday, 22 September 2026, with allotment of new shares expected on 23 September 2026.
HiTech Managing Director and CEO, Elias Hazouri, expressed satisfaction with the strong support, particularly from new investors. Mr Hazouri stated the funding provides additional balance sheet flexibility as HiTech integrates Hudson and positions the enlarged group for its next phase of growth. He noted the structure preserves existing cash reserves while maintaining capacity for working capital and accelerated debt repayment. The Hudson acquisition is seen as transformative, creating a national recruitment and professional services platform with approximately $216 million in pro forma combined revenue and a broader customer base.
