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Fishing for Murdoch a lure to WA

AUSTRALIA - New aquaculture company Western Kingfish will debut on the Australian Stock Exchange today with many watching the list of its top 20 shareholders to confirm whether Lachlan Murdoch is among them.

He is believed to have taken a 13 per cent stake, adding to his private investments since he quit his father's global media empire.

Western Kingfish managing director Stewart Graham said the company would be happy if it could hit the boards at 25.5¢, giving a slight premium to investors who took up the $8 million initial public offering at 25¢.

It was poised to make a solid debut after its IPO was oversubscribed early by $1 million, but it is unclear what impact the turmoil in global stock markets last week may have on investors.

The company's intended main products are yellowtail kingfish and rock lobster. It eventually hopes to breed lobster in captivity, but meanwhile plans to hold and feed wild lobster in its aquaculture facilities in Jurien Bay.

It will capture premiums by selling them live during times of high demand such as the Chinese New Year.

Source: theage.com

the Fish Site Editor

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