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- Natural health and wellness company Fiji Kava (FIJ) has entered the new season in a trading halt as it prepares to tap investors for fresh capital
- At this stage, shares in the consumer staples stock will stay in back-to-back trading halts until Monday, September 7
- Until that happens, investors won’t know how much the medicinal kava developer wants to raise or what the funds will be used for
- Fiji Kava specialises in developing natural solutions to support the mind and body
- It’s the only company approved by the Fijian Government to conduct operations in the kava industry, and it’s the world’s first kava company to float on a stock exchange
- In its FY20 results, released on Monday, Fiji Kava recorded a spike in revenue and reduced its loss margin
- Fiji Kava shares last traded for 22.5 cents on Monday, August 31
Natural health and wellness company Fiji Kava (FIJ) has entered the new season in a trading halt as it prepares to tap investors for fresh capital.
At this stage, shares in the consumer staples stock will stay in back-to-back trading halts until Monday, September 7. However, Fiji stock could resume trading even earlier if the company is able to announce the capital raising details before that date.
Until that happens, investors won’t know how much the medicinal kava developer wants to raise or what the funds will be used for.
Fiji Kava specialises in developing natural solutions to support the mind and body. Currently, its product offering includes noble kava capsules and a range of supplements to induce sleep, calm nerves and support muscle relaxation. Recently, the health and wellness company launched the noble kava range in Coles supermarkets.
It’s the only company approved by the Fijian Government to conduct operations in the kava industry, and it’s the world’s first kava company to float on a stock exchange.
In its FY20 results, released on Monday, Fiji Kava recorded a spike in revenue and reduced its loss margin.
Positively, the medicinal kava developer ended the period with nearly $1.5 million in the bank and no debt on its balance sheet.
“We finished FY20 having realised our immediate strategic goals and successfully secured a number of initial cornerstone retail and distribution agreements that will underpin our future commercial success,” Fiji Kava CEO Zane Yoshida said in yesterday’s results announcement.
Fiji Kava shares last traded for 22.5 cents on Monday, August 31.
