FISH FARMER ALL CASHED UP: Our barramundi farmer Australis Aquaculture (ASX code: AAQ) announced on black Friday that its share purchase plant had closed oversubscribed, raising $3.265 million - and the market sold the stock down to a day's low of 54.5c, before it recovered to close at 57c, giving the company a market capitalisation of $45.2 million. Shareholders subscribed for 6,531,000 shares at 50c each, following a placement at the same price to institutions that raised $8 million. As the first and only significant farmer of barramundi in the USA, the new funds will help expand that business, which now has inventories of more than one million growing fish. The funds will also launch a new breeding and growing venture in Central Vietnam aimed at contributing a six-fold increase in revenue in three years and a twenty-fold increase within five years. The shares have traded this year to a high of 76c from a low of 40c. Latest from Bulletin.
AAQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
