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Murray Cod Australia (ASX:MCD) - Managing Director, Mathew Ryan
Managing Director, Mathew Ryan
Source: Aqua Sustainable Murray Cod
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  • Cod grower Murray Cod Australia (MCA) enters a trading halt ahead of an upcoming capital raise
  • Currently, it is not known how much the company is aiming to raise or where the funds will be spent
  • Murray Cod shares will be paused on the ASX until Tuesday, November 16, or when more information is released to the market
  • Annual cash revenue grew 13 per cent over the September quarter, with sales continuing to grow despite the impact of COVID-19 restrictions
  • On the market, MCA last traded at 38 cents per share

Murray Cod Australia (MCA) has entered a trading halt ahead of an upcoming capital raise.

It is currently not known how much the company is planing to raise or where the funds will be spent.

Under the halt, Murray Cod shares will be paused on the ASX until Tuesday, November 16, or when more information is released to the market, whichever one comes first.

Murray Cod produces pond-grown cod in Riverina, New South Wales and has one of the lowest environmental footprints in the industry.

Last month, the company released its September quarter report.

Annual cash revenue grew 13 per cent over the quarter, with sales continuing to grow despite the impact of COVID-19 restrictions.

Lockdowns in major capital cities in Australia closed restaurants during the quarter, negatively impacting sales growth. However, MCA recently saw very strong growth in domestic sales.

Over the quarter, the company entered into an agreement with renowned chef Josh Niland to produce and market value added products.

At the end of the period, MCA had cash and cash equivalents of $2.9 million.

On the market, MCA last traded at 38 cents per share.

MCA by the numbers
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