AFR: Ocean Grown Abalone heads to ASX on clean and green China demand
Ocean Grown Abalone is preparing for a $15 million initial public offering in 2017 after completing a $6 million seed capital funding round as it strives to double the size of its operations off the coast of Western Australia and capitalise on strong demand from China and Japan for the seafood delicacy.
Chief executive Brad Adams said close to 100 percent of the green-lipped abalone being grown on an artificial reef off the coast of Augusta, about 30 minutes from the famous Margaret River wine and surfing region, was being sold to customers in China, Japan and Hong Kong.