Seafood processor New Zealand Coastal Seafoods listed on the Australian Securities Exchange (ASX) following the reverse takeover of the cloud television company xTV Networks, The Australian reported.

The television company agreed to fully acquire the issued capital of NZ Coastal Seafoods.

The listing will help the company break into Australia's capital markets as well as find its way to the Asian market, said Coastal Seafoods CEO Peter Win.

The company will use the raised procedures to expand into ready-to-eat meals production as well as expand its facility in Christchurch.