Philippine agribusiness AgriNurture has been delisted from the National Stock Exchange of Australia (NSX), in preparation for a new listing on the Australian Securities Exchange (ASX).
The move is part of a long-running plan by the company to expand its operations in Australia.
The listing on the ASX, Australia’s largest stock exchange, is expected to set the groundwork for the company’s expansion plans.
As part of the move, AgriNurture aims to set up a full Australian branch, the company’s chief operating officer for food Flemming Hansen told Fruitnet.com in September last year, as the company was still considering the shift.
“The vision is not just to be a Philippine company, it’s to be global,” Mr Hansen said.
The move between stock exchanges might take up to six months, AgriNurture’s president Antony Liu told local news service Malaya Business Insight.
He said there was strong potential for increased agricultural trade between the Philippines and Australia.
“Increasing agricultural trade and investment will build prosperity in both countries,” Mr Tiu said.
“Australia will supply dairy, while our country will provide yellow mangoes in return. We hope to export bananas as well since we are optimistic that the Department of Agriculture will soon get the issues fixed on Australia’s restrictive requirements.”
AgriNurture is a major player in the Philippine horticulture sector, selling a range of a processed and fresh fruit and vegetables. The company is one of the Philippines’ largest exporters of fresh mangoes.
