Manuka honey products maker Oceania Natural next NXT listing

Wednesday 23rd March 2016

Food supplements maker Oceania Natural is set to become the third company to join NZX's NXT market in a compliance listing set for the end of the month valuing the firm at $15.9 million.

Auckland-based Oceania Natural is expected to list about 25.7 million shares at 64 cents apiece on the NXT board on March 31, according to a stock exchange notice. The company is controlled by chief executive and chairman Walker Zhong, who owns 62 percent of the shares. The board is rounded out by Sean Meng, who owns 8.1 percent of the company, and independent directors Zhi Jun Shi and Ross Keeley, the former chief executive of fish oil supplement maker SeaDragon.

Oceania Natural produces and distributes food and supplement products sourced from New Zealand and the Pacific Islands for domestic and export markets, using manuka honey and noni fruit marketed under the 'Rich Garden' brand.

The company's key export market is currently China, and it plans to expand its product range, increase market share and start selling in the US, Taiwan, Canada and Australia, according to its website.

BusinessDesk.co.nz

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