New Zealand Coastal Seafoods successfully lists on ASX
New Zealand Coastal Seafoods successfully lists
on ASX
New
Zealand Coastal Seafoods Limited (ASX: NZS) has joined other
leading New Zealand food and beverage export companies on
the ASX, after recommencing trading of its shares on August
5, 2019.
As announced on 23
July 2019, the Company succesfully raised $5 million to fund
the operations of New Zealand Coastal Seafoods Limited and
facilitate the recommencement of trading of its shares on
the Official List of ASX.
The capital
raising received significant support from local and
international shareholders, driven largely by the quality of
the Company’s primary seafood product – Ling Maw. With
the funding and compliance-related matters of the
acquisition now complete, NZS is well positioned to execute
its growth strategy.
To
this end, the net proceeds of the capital raising will be
applied to:
• Increasing sales
of existing products through expanded production capacity
via a new, larger premises and increased ability to access
fresh seafood supply;
• Further improving profit
margins by extending the range of products to include
ready-to-eat products such as pre-packaged soups;
and
• Expanding sales capacity by growing its
sales force and expanding distribution channels in existing
markets, such as New Zealand, Australia and Hong Kong and
entering or further penetrating as relevant markets such as
China, Malaysia, Singapore, Indonesia and
Vietnam.
About New Zealand Coastal
Seafoods
NZCS is a growing processor,
distributor and exporter of premium seafood products, with
operations and a seafood processing and drying facility
based in Christchurch, New
Zealand.
From New Zealand’s pure,
pristine waters, NZCS sources the freshest, wild-caught
seafood for supply to its customers and distribution
partners in New Zealand, Australia and Asia.
NZCS’s range of premium seafood products includes its flagship, dried ling maw product - a highly sought-after product rich in collagen and essential nutrients – as well as sea cucumber, soft and hard elephant fish (backbone) and dog fish (backbone).