Dongfang Modern Agriculture Holding Group Ltd, considered China’s second-largest citrus fruit producer, will use some of the proceeds from its Australian listing to more than double the land it owns at home. The move, the first such step by a Chinese agricultural firm, comes as Australia increasingly emerges as a destination for Chinese companies looking to raise capital as a lengthy wait and market volatility discourage them from listing at home…Full Article: China Daily Dec 2015
- Dongfang Modern will purchase 5,270 of hectares in Jiangxi province, southeastern China, for AUD$106 million (US$76 million), bringing its total acreage to more than 8,000 ha.
- In October 2015, Dongfang Modern raised AUD$39.2 million (US$28.5 million) of its initial public offering on the Australian Securities Exchange (ASX). The company hoped to raise AUD$50 million.
- In 2014, Dongfang Modern had a 1.2% market share in China, second only to Asian Citrus.
- Founded in 2005 and headquartered in just outside Sydney in New South Wales, Australia, Dongfang Modern Agriculture Holding Group (aka Dongfang Modern) is the second largest producer of citrus and camellia (e.g. tea and tea oil) products in China. In 2014, the Dongfang Modern produced more than 200,000 MTs of citrus products (e.g. tangerines/mandarins, pomelos, navel oranges) and camellia products. As of 2015, the company’s 19 plantations (~8,000 ha) were located in Jiangxi province, southeastern China.