Comvita has announced to the New Zealand Stock Exchange that two Asian businesses have taken a shareholding in the company.

The Comvita visitor centre in Paengaroa is world's apart from new investment partners in China and South Korea.

Chinese business, GPE, and South Korean company Aju Pharm have each taken a strategic shareholding by private placement of 500,000 shares each at $2 per share.

With settlement immediately, Comvita will receive $2m in net cash proceeds.

'We receive many expressions of interest from significant Asian parties who wish to invest in the Comvita business because of our long established reputation for premium quality health products from New Zealand,” says Comvita chairman Neil Craig.

'This strategic investment by GPE and Aju Pharm cements the relationship between the companies in a very meaningful way and ensures an alignment of our joint longer term interests in developing Comvita's business in these two key markets.

'It also gives us the confidence to continue expanding our presence in the Chinese and Korean markets through greater investment in direct retail and other supporting infrastructure.
'This relationship is destined to deliver exceptional value over the longer term to all of Comvita's shareholders.”