Bellamy’s Australia, a Tasmanian organic baby food
manufacturer, launched on the Australian Stock Exchange yesterday.
The ABC described the debut by the decade-old as a solid
result, with the market value of the company $120 million at the close of
According to Fairfax, the company, formerly known as
Tasmanian Pure Foods, saw its shares rise 30.1 per cent above the IPO.
The listing raised $25 million for the company’s expansion,
as it looks to meet demand in Asia for organic food.
The same morning, Tatura Milk Industries, a partner in
making infant milk formula, had received accreditation to export to China.
Bellamy’s managing director Laura McBain said the company
was looking to export to other Asian markets.
“We are going
through the registration process for our formulas into the Philippines, for
example, and that’s a two-year process,” she told The ABC.