Media Release: Keytone Dairy to List on ASX Today
Keytone Dairy Corporation Ltd (ASX: KTD) (“Keytone Dairy” or “Company”), the manufacturer, packer and exporter of dairy and nutrition blended products, is pleased to announce that the Company’s securities will be listed on the Australian Securities Exchange (ASX) today, Wednesday, 18 July 2018 at 12:00pm (AEST).
Keytone Dairy capital raising closed with an oversubscription of $15 million through the issuing of 75 million ordinary shares at the issue price of $0.20 per share via the Initial Public Offering (IPO) process. On listing the Company will have a market cap of $30 million.
Keytone Dairy’s proprietary manufacturing facility, located in Christchurch, New Zealand, produces commercial whole and skim milk powder as well as other dairy powder blends under its proprietary brands. The Company also contract-packs a range of powdered dairy products for major supermarkets, retail chains, dairy producers and other customers, in New Zealand and China, under their private label brands.
Keytone Dairy’s products are exported globally, including to China, for sale in a variety of channels, including major supermarket chains, premium retail channels and online marketplaces. Keytone Dairy holds the coveted China Certification and Accreditation Administration (CNCA) license, a pre-requisite for importation of dairy products into the People’s Republic of China. It is also Halal-certified, enabling exports into Muslim countries.
James Gong, Managing Director and CEO of Keytone Dairy, said:
“Keytone Dairy’s ASX listing is a true milestone for the Company that we see will accelerate our growth and plans for future product and distribution expansions.
“The Company has already purchased land for two new manufacturing facilities it plans to build, in addition to its purpose built existing Christchurch facility. Once completed, these facilities will enable Keytone Dairy to both increase its capacity and expand into a number of new products, to meet customer demand. Importantly, the new facilities will enable the Company to meet demand from high-volume customers in China and other Asian countries.”
Keytone Dairy also plans to expand their product range, distribution network and develop distribution in additional geographic markets.
Bernard Kavanagh, Non-Executive Chairman of Keytone Dairy and dairy industry veteran, said:
“We are extremely pleased with the response we have received to the Keytone Dairy offer from both institutional and retail investors in Australia and offshore. This is a very exciting time for Keytone Dairy and we warmly welcome all our new shareholders to the register.”
Selected examples of Keytone Dairy’s proprietary product range
Selected examples of private label brands manufactured by Keytone Dairy
About Keytone Dairy
Keytone Dairy Corporation Ltd is a manufacturer, packer and exporter of dairy and nutrition blended products, with a current focus on powdered dairy products. Keytone Dairy has successfully commercialised and is currently selling whole and skim milk powder and other dairy powder blends under its proprietary brands, as well as manufacturing and packing a range of powdered dairy products for leading supermarkets, retail chains, dairy producers and other customers under their private label brands.
For more information please visit: https://www.keytonedairy.com/
For further information please contact:
Rod North, Managing Director
Bourse Communications Pty Ltd
T: +613 9510 8309, M: +61 408 670 706