Dongfang Modern Agriculture Holding Group Limited (“Dongfang”, ASX:DFM) is a highly profitable agricultural food producer supplying the world’s largest agricultural market, China.
Since inception in 2009, Dongfang has grown to become the second largest company in China harvesting citrus fruits. In 2014, the company produced over 200,000t of tangerine (mandarin), pomelo, navel oranges and camellia seed and fruit products on over 7,976 hectares of farms. Dongfang has been a successful aggregator of small
plantations that have provided high revenue and earnings growth in the PRC’s tax exempt agricultural food sector.
The ASX IPO will allow timely access to new capital (A$39m minimum and A$50m maximum subscription and bigger acquisition) for the Company’s expansion plans and will augment A$56m in current cash and expected A$75m earnings in calendar 2015.