On its opening day of trade following the reverse takeover of Hillcrest Litigation Services (ASX: HIL), Bubs closed at $0.135 or a 35 per cent premium to its issue price of $0.10 per share, giving the company, the first new listing of 2017, a market capitalisation of $32.2 million.
At 11.28am AEST today BUB shares were trading at $0.22 per share, having hit a high of $0.23 per share.
In total 18,602,669 shares had been traded by that time today, worth $3.7 million.
Bubs Australia was established in 2005 and is 100% Australian made. It has continually innovated and launched infant formula and organic baby food products that cater for all stages of development from newborn to toddler, including prepared food brand Bubs Organic and a unique digestion friendly Bubs Advanced Plus+ Goat’s Milk infant formula.
It is the first organic baby food pouch range to launch in Australia and certified by Australia’s largest and most trusted certification body Australian Certified Organic (ACO).
It has a presence across over 320 Coles stores in Australia and located in stores throughout Hong Kong, Singapore, Vietnam and UAE after 10 years of work with partners.
Key executives of the company include Mrs Kristy Carr – executive managing director and Bubs founder – who has an in-depth knowledge of the infant category. Prior to co-founding the Bubs brand, Mrs Carr lived in Asia for over a decade and was international communications strategist for Cathay Pacific. As a mother of three, Mrs Carr has first hand experience when it comes to new product development and mum-to-mum insight.
Mr Nicholas Simms, who is commercial director infant milk formula, is an FMCG specialist with over two decades of experience in management positions within leading FMCG companies including Mars Inc., HJ Heinz, PZ Cussons & five:am, the market leading producer of organic yoghurt and cereals.
Bubs Australia raised $5.15 million under a prospectus offer to progress the development and marketing of the Bubs business and provide working capital for sustainable growth. PAC Partners was lead manager to the re-compliance listing and $5.15m capital raising.
Cornerstone investors in Bubs and its subsidiaries include Ellerston Capital, the founders of Wattle Hill Capital, and an investment company of Nancy and Richard Zhang, the founder of JD.com.
Source: NeWS
Link: http://www.news.com.au/finance/business/breaking-news/infant-milk-maker-bub-up-on-asx-debut/news-story/3aa5695ce52693d0218d6fe89144c98c