Roto-Gro up on ASX debut

10/02/2017 - 14:01

Canadian hydroponics technology company Roto-Gro International has closed its first day of trading on the ASX, after completing a $3.6 million initial public offering managed by Perth-based Barclay Wells.

Roto-Gro up on ASX debut
Roto-Gro owns its automated rotary hydroponic garden system, which allows for plants to be stacked vertically within a compact rotating growing bed.

Canadian hydroponics technology company Roto-Gro International has closed its first day of trading on the ASX, after completing a $3.6 million initial public offering managed by Perth-based Barclay Wells.

Roto-Gro owns its automated rotary hydroponic garden system, which allows for plants to be stacked vertically within a compact rotating growing bed, leading to greater crop yields per square metre.

The company has a major focus on the medical cannabis sector; however, it also caters its products for all other hydroponic purposes.

The company raised $3.6 million from investors at 20 cents per share, and traded on the ASX for the first time today.

At the close of trade, Roto-Gro shares were worth 21.5 cents each.

Barclay Wells acted as lead manager to the raising, with RSM acting as both investigating accountant and auditor.

Mills Oakley acted as solicitor to the IPO.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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