After an initial public listing in Australia earlier this year, Chinese-based citrus grower Dongfang Modern is now undertaking an equity crowdfunding campaign in New Zealand, according to Fairfax Media.
Dongfang has been aiming to raise between A$39m (US$29m) and A$50m (US$37m) through the Australian public offering. Equity crowdfunding platform Equitise suggests the company has already fallen within this bracket, although it is believed up to NZ$2m (US$1.3m) of the remaining shares will be made available to New Zealand investors.
Dongfang’s varietal portfolio includes navel oranges, pomelos and tangerines. The Ganzhou-based company has chosen to list in Australia to avoid time delays and instability within the Chinese market, according to Reuters.
