IAWS seeks new listings for Origin

Food group IAWS is to seek to list its subsidiary firm Origin on the IEX market of the Irish Stock Exchange and the AIM market…

Food group IAWS is to seek to list its subsidiary firm Origin on the IEX market of the Irish Stock Exchange and the AIM market of the London Stock Exchange.

Origin intends to raise approximately €100 million by way of primary issue, the group announced today.

It is expected the shares will begin trading on both exchanges in June.

Origin chief executive Tom O'Mahony said: "The expertise of our management team combined with an injection of equity funding and admission to IEX/AIM will facilitate a renewed commitment to growth. Origin is now well positioned to pursue development strategies appropriate to the needs of each business."

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Davy is acting as AIM nominated advisor, IEX advisor and broker to Origin.

Origin was established late last year to focus on the agri/nutrition and food businesses of the IAWS group. Its businesses include feed ingredients, fertiliser blending and marine proteins.

Origin's food activities encompass Shamrock Foods and a 50 per cent interest in Odlum Group. Its parent owns the Cuisine de France, Roma, Carroll Cuisine, Shamrock and Pierre's brands in Ireland.