International legal practice, Osborne Clarke, has advised finnCap Ltd, in its capacity as nominated adviser, sole bookrunner and sole broker, on Ocean Harvest Technology Group plc's £20.1 million AIM IPO and associated institutional placing.
Ocean Harvest Technology, which is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam, is one of the leading commercial scale producers of seaweed blend ingredients for the animal feed market. The group was founded in 2005 on the belief that an investment in research and development would result in the ability to create seaweed ingredients that would deliver a number of specific benefits across multiple animal species based on the polysaccharides and other bioactive ingredients present in particular species of seaweeds.
The group continues to build a portfolio of intellectual property and has had commercial success in selling its products as ingredients to improve the efficiency, profitability and sustainability of the animal feed chain by delivering improvements in animal gut health. Ocean Harvest Technology's aim is to become the largest supplier of proprietary blended seaweed ingredients to the global animal feed industry.
Ocean Harvest Technology intends to use the net proceeds of the placing to, amongst other things, grow the group's global sales team, add additional manufacturing capacity, develop products and for general working capital purposes.
Admission and trading in Ocean Harvest Technology's ordinary shares took place this morning (4 April 2023).
Osborne Clarke's Corporate team, which is Band 1 ranked for Capital Markets: AIM by Chambers, is considered a go-to practice for many companies, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.