AIF Capital Invests US$26 million in Oceanus Group
Singapore and Hong Kong – 16th May 2009 - AIF Capital, one of the largest Asia-based independent private equity firms, today announced that it had committed to invest S$37.5 million (US$26 million) in a Singapore listed company, Oceanus Group Limited (Oceanus), the world’s largest land-based producer of premium quality Japanese abalones.Â The investment was made by way of a loan with warrants, for an 11.1% interest in the Company upon exercise of warrants (with an exercise price of S$0.15). The loan carries 9% interest per annum for a term of 3 years.
At the same time, Oceanus was informed that it will be a new constituent of MSCI Singapore Small Cap Index. This new addition will take place as of the close of May 29, 2009.
About Oceanus Group
Oceanus Group is the largest land-based abalone producer in the world. Its principal activities are the research and development, breeding, production and sale of premium quality Japanese breed abalones.
Oceanus’ abalone is farmed inland in tanks ideally located along the coastal lines of Fujian and Guangdong provinces in the People’s Republic of China. Using well-devised production system and processes, Oceanus’ premium abalones are bred under carefully controlled environment to encourage their growth, survival and propagation. Through large-scale production and stringent quality control measures, Oceanus delivers a consistent supply of high quality Japanese breed abalones throughout the year.PDFPrint