24 Oct 2014

Clayton Utz acts on Tasmania's Huon Aquaculture's $420 million IPO and ASX listing

Melbourne, 24 October 2014: Clayton Utz has acted for premium Tasmanian salmon farming operator Huon Aquaculture Group Ltd (Huon Aquaculture) on its Initial Public Offering (IPO) and listing on the Australia Securities Exchange, announced to the market yesterday.

Clayton Utz Corporate partner Brendan Groves and partner-elect John Brewster led the firm's team, which included lawyers Peter Hamblin and Kate Allison.

The IPO raised $133 million, giving the company a market capitalisation of approximately $420 million. Capital raised will be used to expand the company's operations and invest in future fish farming operations.

Huon Aquaculture was founded at Hideaway Bay in 1986 by couple Peter and Frances Bender. The business now employs over 500 people and produces around 15,000 tonnes of salmon annually.

John said Clayton Utz was pleased to be part of Huon Aquaculture's next stage of growth. "Huon Aquaculture is an example of a highly successful business that was founded on hard work and a quality product. Our team at Clayton Utz is excited to see the business take this next step in growing its operations."

Brendan commented that the Huon IPO demonstrates the strong appetite in the market to support quality businesses in growth sectors. "Huon Aquaculture's culture of constant innovation and improvement in an industry that has excellent growth prospects was recognised by the market in its strong support for this IPO. We're delighted to have worked with the Huon team in achieving this important milestone for the business."

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