AgriNurture unit seeks delisting from Australian bourse

MANILA, Philippines - AgriNurture Inc. (ANI) subsidiary First Class Agriculture (FCA) has voluntary asked to be delisted from the National Stock Exchange of Australia (NSX).

In a disclosure to the Philippine Stock Exchange, ANI said that FCA has sought to be removed from the NSX effective June 30 this year.

The NSX is smaller than the Australian Stock Exchange and focuses on small to medium and high-technology companies.

ANI president Antonio Tiu explained that the delisting from the NSX is actually in preparation for FCA’s plan to list with the much bigger ASX.

However, Tiu said the listing of FCA with the ASX would probably be done towards the end of this year.

ANI meanwhile, is the first agricultural firm to list at the PSE.

It engages in the commercial distribution of fresh fruits and vegetables to key retail accounts in the country, as well as in the wholesale trading and distribution of commercial crops through trade channels such as hotels, restaurants, public wet markets and catering companies.

These are being done through its three subsidiaries - FCA, Fresh and Green (FG) and Lucky Fruit and Vegetables (LF) - all under its distribution division.

ANI also operates M2000 Imex in Bulacan, Hansung Agro in FTI Taguig and Fruitilicious in Cagayan de Oro through its production division.

M2000 Imex is engaged in the manufacture and processing of branded and toll-manufactured fruit beverages such as mango nectar, tamarind juice, coco juice and coffee.

Meanwhile, Fruitilicious serves the frozen and processed fruit requirement of food manufacturers and processors both in the local and export market.

Best Choice Harvest (BCH), on the other hand, engaged in farming activities in various provinces.