A company marketing Far South Coast oysters says international investors have rushed its share market offering.
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Australia’s Oyster Coast – which includes oyster farmers from Wapengo Lake, Merimbula, Pambula and Wonboyn – said investors from China, Europe and Australia have jumped at the chance to purchase shares in the group.
They see the potential for expansion and future profits, especially given the growing consumer demand for high quality
- David Trebeck
The South Coast-based company publicly announced the issue of 500,000 shares when it launched its prospectus on January 12.
Chairman David Trebeck said the group was well on the way to meeting its target of raising $500,000 under the offer.
“This shows that there are plenty of investors who share our confidence in the market appetite for our premium oysters,” Mr Trebeck said.
“They see the potential for expansion and future profits, especially given the growing consumer demand for high-quality, environmentally-certified produce in China, Hong Kong and Singapore.
“That’s good news for the future of the company, and for the more than forty local oyster growing businesses who are our suppliers.”
Recently, the group hosted a Chinese investor who will be sourcing significant quantities to meet the demand from exclusive customers in Guangzhou.
Mr Trebeck said exports to Asia were only one part of the story and hoped to boost Australian sales.
“This will support our ability to pay premium farm gate prices to our grower shareholders”, said Mr Trebeck.
The share offer closes at the end of February.
Through its capital-raising drive, the company hopes to boost incomes and secure the livelihoods of growers.
Meanwhile, Australia's Oyster Coast Trail is helping put the South Coast on the gourmet traveller’s map.
Oyster-driven tourism is already delivering visitors to the region, bringing broader benefits for local businesses.
The firm last year made a foray into the Asian market, sending a marketing team to Hong Kong and mainland China.
The industry is a growing one for South Coast oyster farmers, several of whom have have suffered setbacks at key periods in the domestic market due to rain.
More info at www.australiasoystercoast.com.