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KTD's share demand significantly exceeded the maximum fundraising of A $ 12 million / US $ 8.9 million (up to A $ 15 million oversubscribed) , which reduces the number of requests received. Keytone Dairy conducted a targeted marketing campaign in Australia, New Zealand and Asia and attracted institutional investors to its register. These include institutions already familiar with the market for powdered milk products, as well as institutions without prior investments in the sector, attracted by the dynamics of the powdered milk sector, as well as growth potential of Keytone Dairy.
Platoon Capital Broker to the IPO
Use of Funds
At the time of the IPO, Keytone Dairy will have a market capitalization of A $ 30 million / US $ 22 million ( based on the issue price of $ 0.20 per share). Funds from the IPO will be used to expand Keytone Dairy's manufacturing base from existing facilities (thereby significantly increasing production capacity); expand the Keytone Dairy product line; expand Keytone Dairy's existing distribution network; James Gong, Chief Executive Officer and Chief Executive Officer, said the company believes that the ASX listing will accelerate the growth of Keytone Dairy.
"Keytone Dairy has already purchased land for two new manufacturing facilities.It plans to build, in addition to its existing facilities built in Christchurch," Gong said.
"Once completed, these facilities will allow Keytone Dairy to both increase its capacity and expand to a number of new products, to meet customer demand. Importantly, the new facilities will allow the company to meet the demand of high-volume customers in China and other Asian countries. "
Acquisition
As part of the company's , IPO, Keytone Dairy) Company Limited, New Zealand manufacturer, packer and exporter of dairy-based and nutritional dairy products, particularly powdered dairy products.
Since 2014, Keytone NZ has been using its factory made exclusively in Christchurch, New Zealand, and marketed whole and skim milk powder and other dairy powder blends under its exclusive brand names.
Keytone NZ also delivers a range of powdered dairy products for large supermarkets, chain stores, dairy farmers and other customers. Zealand and China, under their private label.
Keytone NZ products are exported globally, including to China, for sale in a variety of channels, including major supermarket chains, premium
Keytone NZ customers and distribution channels include New World, PAK's nSAVE, Countdown (subsidiary of Woolworths in New Zealand), Dairyworks New Zealand, Metro, Guangzhou Dept & Friendship Store, HalsoKraft, JD.com. , Tmall.com and VIP.com.
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