Billionaire builds stake in Australian kingfish farmer
Australian tech billionaire Anthony Hall has amassed a significant stake in troubled yellowtail kingfish producer Clean Seas Seafood.
Hall, co-founder of medical imaging business Pro Medicus, now owns just over 11.5% of Clean Seas’ equity.
Clean Seas sells its kingfish through two brands: Spencer Gulf Kingfish for professional cooks/foodservice, and South Australian Yellowtail for consumers to cook at home.
The company is listed on the Australian stock exchange ASX, but shares have slumped from a high in August of A$0.54 to A$0.26 earlier this month. The company is currently part way through a capital raising exercise to fund the costs of downsizing, following a review which recommended scaling down the company’s output and focusing on the premium market.
Anthony Hall was the architect of the Pro Medicus software system and remains the company’s Technical Director. Reports suggest he has so far invested an estimated A$6m (£3.13m) in Clean Seas.
Hall also owns a controlling stake in Australian shellfish farmer Yumbah Aquaculture.