bees, honey and other sticky subjects

Monday, March 01, 2004

Big beesness

Comvita, a natural health products company focusing primarily on bee products, wants to list on the full New Zealand Stock Exchange (NZSX) and has announced a public offering of NZ$7.5 million. It is already listed on the New Zealand small company Stock Exchange (NZAX) and has 220 investors. With 500 investors it will qualify for NZSX. Comvita has just recorded record profits of over NZ$1 million, up 60% on the previous year, and as the New Zealand Herald reported:
[The Comvita Chairman] said the largest honey crop in New Zealand's history, the successful management of the varroa mite, huge exchange rate fluctuations, the introduction of new management practices and the launching of the NZAX all underscored the company's ability to cope with highs and lows without losing focus.
The new cash will enable the development of Comvita's warehouse and other facilities, develop its medical honey business and consider further acquisitions.


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