Abchurch has won the Financial PR remit for Aquatic Foods Group Plc, a marine foods and seafood processor and supplier based in the People’s Republic of China (“PRC”) supplying to both export and local PRC markets.
Shandong-based Aquatic Foods Group operates through two key brands: “Zhenhaitang” servicing the local market and “Kanwa Foodstuffs” servicing international markets. The Group’s main products are processed frozen seafood, seaweed-based foods and marine snack foods. Through adhering to excellent food safety procedures that have been developed over many years, the Group has built a strong track record of supplying its products into overseas markets. Their track record in exporting to international markets has enhanced the perception of the quality and reliability of the Group’s products in the PRC. This has allowed the Group to expand into local markets as the demand for seafood products has increased. In the year ended 31 December 2013, the Group reported revenues of £66 million and net profit of £11.8 million.
The Company announced its Intention to Float on AIM on 2 February 2015, and dealings commenced on 3 February 2015. Aquatic Foods raised £9.3 million and has a market capitalisation of £79.3 million on Admission to AIM.
Julian Bosdet, Senior Partner of Abchurch commented: “Abchurch is extremely pleased to have assisted Aquatic Foods on its successful AIM IPO. The Company’s principle business objective is to become the leading processed seafood supplier in the PRC and we look forward to supporting the management team in achieving this objective and keeping investors informed of the Group’s progress.”
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