SIV migrants put $16 million into Mort & Co

SIV migrants put $16 million into Mort & Co
SIV migrants put $16 million into Mort & Co

The largest agricultural investment under the federal government's new significant investment visa (SIV) program has been made in the $174 million float candidate Mort & Co.

It owns and operates Australia's biggest independent feedlot business.

The SIV program gives foreigners resident status in exchange for a $5 million investment.

Last July the federal government changed the SIV rules to ensure that at least 40 per cent of each $5 million investment would be placed into venture capital and growth equity for smaller Australian companies.

Investment bank Moelis, which is handling the Mort & Co float, confirmed that a pre-IPO investment of $16 million had been made in the cattle company largely through the Moelis significant investment visa (SIV) venture capital fund.

The Australian Financial Review reported wealthy individuals from China, Singapore and Australia have also participated.

Mort & Co has more than 10,000 hectares of prime cattle stations in Queensland and NSW, and is seeking to list on the Australian Securities Exchange next year.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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