News and Announcements
Dongfang Modern Agriculture Term Sheet: Initial Offering
- Published August 25, 2015 3:14PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Introduction
A leading agricultural food producer in the world’s largest market
Dongfang Modern Agriculture Holding Group Limited (“Dongfang”, ASX:DFM) is a highly profitable agricultural food producer supplying the world’s largest agricultural market, China.
Second largest citrus fruits harvester in China and Strong balance sheet
Since inception in 2009, Dongfang has grown to become the second largest company in China harvesting citrus fruits. In 2014, the company produced over 200,000t of tangerine (mandarin), pomelo, navel oranges and camellia seed and fruit products on over 7,976 hectares of farms. Dongfang has been a successful aggregator of small plantations that have provided high revenue and earnings growth in the PRC’s tax- exempt agricultural food sector.
FY2014 revenue A$133.2m, EBITDA A$56.6m
The ASX IPO will allow timely access to new capital (A$39m minimum and A$50m maximum subscription and bigger acquisition) for the Company’s expansion plans and will augment A$56m in current cash and expected A$75m earnings in calendar 2015. Dongfang has no debt and has a transparent financial and operating history.
Overview
Issuer: Dongfang Modern Agriculture Holding Group Limited (ASX: DFM)
Transaction: Initial Public Offering (“IPO”)
Security type: New fully paid ordinary shares
Issue price: A$1.00
Subscription: Minimum of A$39 million, maximum of A$50 million
Application minimum: A$2000.00
Purpose of the Issue: Fund growth initiatives including the acquisition of new plantations
Lead Manager: Paradigm Securities Limited
Corporate Advisor: Austra Capital
Legal Advisor: Piper Alderman
Investigating Accountant: PKF Corporate Finance (NSW) Pty Ltd
Applications: Application for shares can only be made pursuant to the Prospectus issued by the Company and available from the Company’s website (www.dongfangmodernagriculture.com.au), the Lead Manager, Paradigm Securities and from the ASX website.
To download the full document, please click on the link below.
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