EverBlu Capital opened the Initial Public Offering for Angel Seafood Holdings Limited. Angel is seeking to raise $6-8 million through the issue of up to 40 million shares at an offer price of $0.20

Angel farms clean, green, organic and sustainable oysters which it sells domestically and internationally. The Company currently owns or leases 41.08 hectares of oyster production licenses and leases in South Australia and has agreed to acquire a further 10.00 hectares of oyster production licenses and leases.

The Company believes it has identified a unique opportunity to rapidly expand operations through the aggregation of a number of smaller oyster farms into one entity so it can become the largest producer of organic and sustainable Pacific oysters in Australia. 

Some of the Key Highlights include:

• Certified Organic Pacific Oyster Producer and certified as a "Friends of the Sea" Pacific Oyster Producer
• Ideal Geographic Location in South Australia in the Eyre Peninsula
• Proven Profitability since 2010 (except FY16/17 due to rapid expansion)
• Large footprint of a large percentage of all available water leases in the area
• Highly skilled team with a lot of experience operating in oyster production
• Already existing export distribution networks into Hong Kong and Singapore
• High demand that exceeds current supply capacity for the entire industry with domestic prices rising steadily year on year
• High Barriers to Entry

The offer opened on Monday 18 December with the offer to remain open until January unless closed early at discretion of the Company. A listing date is expected to be in February 2018.

For more information please use the following links:

• Prospectus (link: https://www-angelseafoodipo.thereachagency.com/offer/)
• Company Website: https://angelseafood.com.au/