Australia: Oz Brewing Ltd to be listed on stock exchange after the launch of a $1.5 capital raise

Perth-based beer-maker Oz Brewing Ltd said it would launch a $1.5 million capital raising ahead of a planned listing in December, reports said October 10.

The move follows the launch of beer packaging company Brewtopia on the Newcastle Stock Exchange in May this year.

Oz Brewing's initial public offer (IPO) offers up to 7.5 million shares at 20 cents each to raise up to $1.5 million.

Proceeds of the offer will be used to establish the Mad Monk Brew Cafe site in Fremantle, as well as commission a microbrewery plant on site, Oz Brewing said.

The company is then due to list on the Australian Stock Exchange (ASX) on December 1 and if the minimum offer is taken up will be capitalised at $7.5 million or $9 million if oversubscriptions are filled.

Oz Brewing chairman Terry Creasey said the company had been established after identifying a niche market in the multi-billion dollar industry.

"The humble beer has come a long way in the past few years as the boutique beer revolution gains momentum, thanks to the development of the microbrewery sector," Mr Creasey said.

"Craft beer is the fastest growing sector in the Australian beer market with much of this growth led by several Fremantle microbreweries which have combined brewing and retail outlets into a major success story."

The Oz Brewing Offer will open next Monday, October 16 and close on November 10.

In May this year, online beer company Brewtopia debuted on the NSX at 54 cents, and closed at the same level.

The outfit allows clients to customise their own beer by designing labels and choosing packaging online.

Other listed beer makers include alcoholic beverage companies Foster's Group Ltd and Lion Nathan Ltd.

11 October, 2006