Aquaculture for all

Australis Retains Private Equity of Wakabayashi

Economics +1 more

AUSTRALIA - Barramundi producer Australis Aquaculture has retained private equity and corporate advisory firm Wakabayashi to provide capital raising and investor relations services.

Australis, which farms fish in large indoor tanks after flying Australian barramundi eggs to its Massachusetts plant, has heavily promoted the iconic barra in North America and elsewhere, says a report by Business Spectator. According to the news organisation the company has said that Wakabayashi's efforts will focus on institutional investors outside Australia.

'In lieu of cash payments for its services, Wakabayashi will receive 1,403,233 ordinary Australis shares, restricted and unable to be liquidated until the completion of a six month engagement', the report said.

Wakabayashi Fund LLC, which has offices in New York and Tokyo, focuses on small companies with revenues as little as $1 million, but with predictable cash flows. Although it operates at the venture capital end of the spectrum it avoids many technology stocks.