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BRIEF CASES
Aquaculture seeks
overseas hook
NEWLY listed barramundi farmer
Cell Aquaculture will look to
finalise several joint-venture
agreements overseas after debuting
on the Australian Stock
Exchange.
Shares in theWest Australianbased
firm opened unchanged
against their issue price of 20¢
when the company hit the
boards yesterday.
The company supplies fish
fromits own hatchery, transports
them to the country where they
are required, builds a fish production
plant, licenses it to the
operator, and provides assistance
in marketing the fish under Cell
Aquaculture’s ‘‘Eco Star’’ banner.
Cell Aquaculture hopes to
supply barramundi grown under
its ‘‘hatch to dispatch’’ concept
to the US, Europe and Asia.
Although Cell Aquaculture
was focused on barramundi at
the moment, there was potential
for the company to apply its fishfarming
technology to Australian
murray cod, golden perch and
several other breeds, he said.
Cell Aquaculture raised $5.2
million in an initial public offering
after issuing about 26 million
shares.
The shares closed at 17¢, on a
volume of more than 1.7 million.
SOURCE: BLOOMBERG