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 (back bone).