tuna - an investment opportunity?

  1. 992 Posts.
    Clean Seas Tuna is to be the first publicly listed tuna company in
    Australia, providing for investors to buy in to the business. The initial
    public offering is available as an $18 million launch and will close on 2
    December. It's fully underwritten by LCS Capital and will list on the
    Australian Stock Exchange on 13 December. Some 18 million $0.50 shares and
    18 million $0.50 converting notes will be issued. Funds will be used to
    support a new on-shore tuna broodstock facility at Arno Bay on the Eyre
    Peninsula, and to continue research and development. The immediate intent
    is to close the life cycle of tuna from spawning to commercial sale. Clean
    Seas Tuna is the only operator in the world with southern bluefin
    broodstock - some 150 of them. Australia currently has quota for around 37
    per cent of the 14,030 tonne world quota - 5265 tonnes. The fish on quota
    are captured and fattened for sale in offshore cages near Port Lincoln, and
    in 2003-2004 output was more than 9,200 tonnes valued at $242 million at
    the farm gate. The parent company of Clean Sea Tuna is the Stehr Group,
    which also farms kingfish and mulloway. The Stehr Group is recognised as an
    Australian leader and international pioneer in tuna fishing and offshore
    fish farming. This is an opportunity for average residents with $5000 to
    spare to buy shares in the industry, and Hagen Stehr is urging them to do
    so. For an on-line prospectus go to www.cleanseastuna.com.au.
    Source: Tracie McPherson in the Adelaide Advertiser (8/11/2005); The
    Australian (8/11/2005); AAP Newswire (7/11/2005); Eyre Peninsula Tribune

    Clean Seas Aquaculture has been granted $4.1 million from the Federal
    Government's Commercial Ready program to fund work to hatch and grow
    southern bluefin tuna. The work will take place at the onshore aquaculture
    facility at Arno Bay
    Source: Australian R&D Review (October 2005).

    Mark Ryan, chief executive of The Tassal Group, has advised the company's
    annual meeting the demand for salmon is growing strongly and this will be
    observed in the company's improved financial performance for 2005-2006.
    While the domestic market for Tasmania's salmon growers grew by 15 per cent
    during the full financial year 2005, over the calendar year to date it's
    grown by 22 per cent. Globally, customers are changing from poultry to fish
    as their concerns over bird flu escalate. Tassal is taking a number of
    measures to assist cost-cutting, including staff reductions, rationalising
    processing, and divesting underused plant and equipment. It has also
    reduced brand numbers from six to one and promotes the brand as pure
    Tasmanian product, to strengthen marketing.
    Source: Trevor Chappell in the Australian Financial Review (4/11/2005).
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.