Sea Forest shares have surged 27 per cent after listing on the Australian Securities Exchange (ASX). The company recently completed a $20.5 million initial public offering (IPO) at $2 per share, giving it a market capitalisation of $112.1 million. Sea Forest is focused on Asparagopsis seaweed production and processing to create its SeaFeed product, aiming to reduce livestock methane emissions through the use of its feed additive product. They are the first company to cultivate Asparagopsis at a commercial scale in Australia.
The company’s share price jumped 27.6 per cent to a peak of $2.55 in the first few minutes after trading commenced at 11.30am AEDT. The stock last traded at $2.50, which is 25 per cent above its IPO price. This impressive debut reflects strong investor interest in Sea Forest’s mission and potential impact.
Sea Forest announced on Wednesday that it has entered into a supply agreement with Providore Global, based in western NSW, to supplement 12,000 head of cattle. The full herd is expected to be rationed with SeaFeed by March 2026 under this three-year agreement, based on standard Sea Forest terms. With this new agreement, Sea Forest now has arrangements covering approximately 118,000 head of livestock to be supplemented with SeaFeed.
Proceeds from the IPO will be used to accelerate Sea Forest’s commercialisation efforts. This includes the establishment of new facilities in Queensland, NSW, Western Australia, and South Africa to increase production capacity and distribution. The funds will also support ongoing product innovation, regulatory approvals, and increased marketing initiatives.
