Fiji Kava raises $US 3.7 million on Australia's Securities Exchange

The first kava company to list on a global stock exchange has raised $US 3.7 million in its debut on Australia's Securities Exchange.

Australian company Fiji Kava closed its public offering on Thursday ahead of a planned launch in Australia next year.

Its Chief Executive Zane Yoshida, says the listing was a huge milestone for the company.

Fiji Kava, which operates in Fiji under the Taki Mai brand, plans to use some of the money to research other medicinal uses for the drink.

This would include using kava to treat anxiety, insomnia and pain.

[Source: Radio NZ]