Wellard Limited, Australia’s largest live cattle exporter, is scheduled to list on the Australian Stock Exchange (ASX) next month with a value of $566 million.

 

The West-Australian cattle and sheep exporting company filed a prospectus in regard to an initial public offering (IPO) indicating the sale of shares priced at $1.39 per share, translating to a value of $566 million.

 

Wellard Limited accounted for 27% of Australia’s total livestock exports in 2015, selling 383,000 head of cattle and making it the country’s largest exporter of live cattle. The company also exports sheep meat, sheep, and small amounts of dairy and breeder cattle.

 

The company, which will be listed as a conservative capital structure, will use the funds gained through the IPO to expand its land bank, grow its customer list in Asia, and expand its maritime logistics capacity, among other grow initiatives, according to Wellard chief executive, Mauro Balzarini, reports ABC.  

 

The company has strengthened its board of directors in preparation for the offering and UBS and Deutsche Bank will manage the capital raise, according to reports from Business News Western Australia.