Tasmanian family-owned salmon producer Huon Aquaculture plans to sell a 32 per cent stake through an initial public offering on the Australian Stock Exchange to better capitalise on the booming industry.
Huon says it is seeking “funding flexibility” to support its future growth plans when it lists at the end of the month.
Huon made $188.4 million in revenue in the 2014 financial year, and it is hoping to raise around $125 million to fund a number of projects to expand production and improve farming efficiency.
The company is expected to have a market capitalisation of between $400 and $450 million as a public company.
The company's Tassie rival, Tassal Group, took the plunge eleven years ago, while Petuna Aquaculture remains privately owned.
Huon's founders, Frances and Peter Bender, will retain 68 per cent of the company and its new investors will hold just under a third.
The pair previously farmed beef when they launched Huon Aquaculture 28 years ago. They now employ more than 500 people.
Peter Bender will retain his position as chief executive officer and Frances Bender will be an executive director.
