STOCKS on the ASX of a New Zealand-based cow and goat milk powder maker have almost doubled in price since listing on Wednesday. Keytone Dairy Corporation Limited (ASX:KTD) floated on Wednesday with an issue price of $0.20 and by today had closed higher at $0.37.
Keytone was established in 2011 for the production and supply of New Zealand dairy and nutritional powdered dairy products for local and international markets, manufactured on South Island.
It has commercialised and is currently selling dairy and nutrition based powdered products under its proprietary brands.
The products are sold in supermarkets across New Zealand and exported to overseas supermarkets and retail chains in China, Hong Kong, Taiwan, Japan, Malaysia, Vietnam, Korea, Australia, Pacific Islands and the European Union.
This year the company announced its first production run of its proprietary branded, KeyDairy Goat Milk Powder.
The company says the goat milk powder was the first sold into the Chinese market through the online retailer JD.com, within the KeyDairy flagship store, prior to being distributed to additional markets in due course.
The first shipment left Keytone’s facility in April 2018.
The company’s IPO raised $15 million.
Source: www.ausfoodnews.com.au
