Bellamy’s Australia, a Tasmanian organic baby food manufacturer, launched on the Australian Stock Exchange yesterday.
The ABC described the debut by the decade-old as a solid result, with the market value of the company $120 million at the close of trading.
According to Fairfax, the company, formerly known as Tasmanian Pure Foods, saw its shares rise 30.1 per cent above the IPO.
The listing raised $25 million for the company’s expansion, as it looks to meet demand in Asia for organic food.
The same morning, Tatura Milk Industries, a partner in making infant milk formula, had received accreditation to export to China.
Bellamy’s managing director Laura McBain said the company was looking to export to other Asian markets.
"We are going through the registration process for our formulas into the Philippines, for example, and that's a two-year process," she told The ABC.