Arpac announces $16M alpaca float

Press, 14 October 1986, Page 31

Arpac announces $16M alpaca float

By

MARTIN FREETH

in Wellington

Arpac International, a livestock breeding venture with plans to import Chilean alpacas, has confirmed it will go to the public for investment funds. The firm’s directors announced yesterday an issue for $l6 million and plans to seek Stock Exchange listing. Two weeks ago, they disclosed to Journalists arrangements to import 500 alpacas, apparently renowned for their wool and meat qualities, as the basis for an elite flock and, eventually, for commercial production. Arpac then ' played down the prospects for a public float. Yesterday’s announcement said a prospectus would be registered early next month with the issue to open later in November. The firm will issue 32 million 50c shares at par, six million reserved for public subscription.

Arpac’s chairman is Mr Alan Laurenson, a senior partner in the accounting

firm of Touche Ross, in Wellington. His fellow directors are Mr Mike Lynds, a former general manager of AMP Financial Corporation, Mr Paul O’Regan, a solicitor from Chapman Tripp, Sheffield, Young, and Messrs Ron Inglis and Murray Richmond, both farmers. Mr Inglis is the president of a body called the New Zealand Llama and Alpaca Breeders Association. Subscribers in the Arpac issue will include three companies the directors have interests in — Richmond Consolidated; New Zealand Alpaca and Llama Research Company; and Dermide Holdings. Arpac has set up a subsidiary near Adelaide, Southern Angora Breeders, engaged in goat embryo transfer and breeding. The directors said funds raised in the float would be used to develop Arpac’s existing business activities, specifically the breeding of goats and alpacas for use in commer-

cial ventures and for sale to studs. They said an international farming network based on Australasian operations would be set up and another embryo transfer unit would be set up in Texas with help from a local expert in the field. At the earlier briefing, the directors outlined a contract with Chile to bring alpacas here early next year. They were confident breeding and stock management research with the animals by Minstry of Agriculture scientists at Flock House, near Palmerston North, would demonstrate big potential for alpaca farming in New Zealand.