Xinhua, Melbourne :
A group of Australian aquatic farmers say that successful exports to China prompted them to list their company on the Australian Securities Exchange (ASX).
Ocean Grown Abalone (OGA), which farms the molluscs off the coast of Western Australia (WA) for human consumption, said an initial shipment of frozen abalone meat to Hong Kong in September proved so successful the company decided to become publicly listed.
OGA prides itself on farming the molluscs sustainably by building their own reefs on seabeds in areas best suited for abalone to thrive, making the farmed delicacy akin to wild-caught abalone without the issue of quota limits.
Brad Adams, the CEO of OGA, said the first shipment to Hong Kong was so popular that a 3.8 million U.S. dollar seed-funding round being offered by the company in November could be oversubscribed.
“The amount of inquiries we’ve had is just extraordinary,” Adams told News Limited on Wednesday.
A group of Australian aquatic farmers say that successful exports to China prompted them to list their company on the Australian Securities Exchange (ASX).
Ocean Grown Abalone (OGA), which farms the molluscs off the coast of Western Australia (WA) for human consumption, said an initial shipment of frozen abalone meat to Hong Kong in September proved so successful the company decided to become publicly listed.
OGA prides itself on farming the molluscs sustainably by building their own reefs on seabeds in areas best suited for abalone to thrive, making the farmed delicacy akin to wild-caught abalone without the issue of quota limits.
Brad Adams, the CEO of OGA, said the first shipment to Hong Kong was so popular that a 3.8 million U.S. dollar seed-funding round being offered by the company in November could be oversubscribed.
“The amount of inquiries we’ve had is just extraordinary,” Adams told News Limited on Wednesday.
