16 November 18
"Qponics seeks AUD 7m (USD 5m) pre-IPO funding ahead of listing by mid-2019 – CEO"
Qponics, a public unlisted Queensland-based Australian agribusiness, is actively seeking AUD 7m (USD 5m) for 38.5% of the company in pre-IPO funding ahead of a listing on a suitable Australian stock exchange by mid2019, Chief Executive Officer Graeme Barnett said.
Brisbane-based corporate advisory firm BlueMount Capital has exclusively been mandated to assist with the raise, Barnett said, noting that the offer will close on 31 March 2019 unless filled prior. Qponics, which will use state-of-the-art technologies to produce algae and algae-derived products, is happy to hear from advisors in its target markets with potential investors, he said.
The company is targeting sophisticated investors in Australia and overseas including the US where the passing of the Algae Agriculture Act of 2018 is aimed at promoting algae farming; in Europe and the UK, where there is a high level of awareness of the benefits of producing omega-3 fatty acids from algae; and in Asia, from markets like China and India that have high levels of pollution, as well from Malaysia, Japan and Taiwan, Barnett said."
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