MANILA, Philippines?Agrinurture Inc. (ANI), an agribusiness and trading company which supplies fresh fruits and vegetables to SM supermarkets and other outlets, is planning to raise more than P1 billion in capital after becoming the first agriculture company to be listed on the Philippine Stock Exchange (PSE).

?Our proposed date for listing is May 13,? ANI president and CEO Antonio Tiu said.

However, the company will not be selling shares immediately. Tiu said Ani would list 178 million shares by way of introduction.

This gives the company the flexibility to offer shares to the public later, when market conditions improve.

The company is set to offer 102 million shares for its follow-on offering.

?We are required to raise funds within 12 months (from listing by introduction),? he said.

Tiu said the company had planned to go public in 2007 but economic challenges worldwide prompted the company to simply list by way of introduction.

?In a bear market such as this it is better to raise funds through the debt market.?

Tiu added during the company?s Tuesday briefing for investors that Ani had been enjoying double-digit growth.

On Jan. 19, 2009, the company became the first Philippine company to be listed on the National Stock Exchange (NSX) of Australia. The bourse caters to small and medium-sized companies. ANI is being traded under the NSX code ?FCA? (First Choice Always), which is also the flagship brand for its vegetable products from the Philippines.

The company?s shares in the Australian bourse sell for about A$0.64 or ?P19 to P20,? Tiu said. He would not speculate on how much the company shares will sell in the Philippines.

Tiu said that listing would assure shareholders that the company was operating in a transparent and regulated manner.