Aquatic Foods Group lands £9.3m on AIM flotation

Jersey holding company has large subsidiary based in China

Aquatic Food Group Plc (AFG) has announced its successful application, subscription and placing on the London Stock Exchange AIM market.

The placement on AIM has raised gross proceeds of £9.3 million at 70p per ordinary share. The money has been earmarked for expanding the company’s processing capacity and meeting future customer demand.

AFG’s operational base is in the Laishan Shengquan Economic Development Zone, Yantai City, Shandong. It is an area well know for its seafood industry and the company sells its product to both domestic and overseas markets.

The company’s directors hope that being accepted onto the AIM platform will help to improve the reputation of the business as well as provide future access to capital that will subsequently help to support its strategic goals.

Audit firm Crowe Clark Whitehall acted in an advisory capacity throughout the process. Partner Robin Stevens said he and his team are “looking forward to working with the team during the next phase of the company’s planned development”.

Further reading on AIM: AIM fundraising for scientific instrument business Microsaic Systems

Alan Dobie

Alan Dobie

Alan Dobie was assistant editor at Vitesse Media Plc before moving on to a content producer role at Reed Business Information. He has over 17 years of experience in the publishing industry and has held...

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