Tibetan winery plans IPO in AustraliaBy Natalie Wang
Tibet’s first organic winery, Mo Er Duo, is planning to go public in Australia next year, reports local Chinese wine media Jiuye Times.
Its wines, made from China’s secluded Tibetan plateau, the same area where LVMH group’s ‘Ao Yun’ wines are produced, are expected to fill a void for Chinese produced high-altitude wines, says a local official from Lhasa Committee of Industry and Commerce at the winery’s press conference on 13 November.
Ao Yun’s release price on Liv-ex was between £1,410 and £1,600 per six bottles. No details have yet been revealed regarding Mo Er Duo’s wine prices or the amount to be raised through the initial public offering.
Founded in 2010 with a total investment of RMB 90 million (about US$13.1 million), Mo Er Duo has 600 mu of vineyards (about 40 hectares) in Nyingchi village near Lhasa, the capital of Tibet.
It recently purchased another 20 mu (about 1.3 hectare) of land in Lhasa, taking the winery’s production capacity to 1,000 tons, according to the report, without specifying grape varieties. Its total wine production operation extends across 13,334 square meters, according to another report by Voice of Tibet.
This is not the first Chinese winery seeking to list in overseas public markets. In 2008, Henan Xianglong Siwu Spirits Company went public in Singapore. Mo Er Duo has partnered with Eagle Investment Group, a Chinese investment firm that specialises in taking companies public on the Australian stock exchange.