County ag giant aims to go public on NASDAQ

One of Ventura County's oldest and most storied agricultural companies hopes to have its shares traded publicly for the first time soon with a listing on the Nasdaq stock market.

The Limoneira Co., which grew from its 1893 founding as a Santa Paula-based citrus industry pioneer into one of California's biggest agribusinesses, hopes to be among the 3,700 Nasdaq-listed companies by mid-May, said CEO Harold Edwards.

Its application, filed last month, must be approved by Nasdaq and the Securities and Exchange Commission, which regulates U.S. securities markets.

While many companies go public to raise capital for financing expansions, Edwards said that is not Limoneira's main goal. Its board, he said, believes the move will increase shareholder value over time as the investment community becomes familiar with the company's numerous assets.

Limoneira produces lemons, avocados, oranges, specialty citrus, pistachios, pluots and cherries on more than 7,000 acres throughout California. The company also develops real estate.

Limoneira built several Santa Paula neighborhoods in the 20th century and is planning to break ground next year on a development that eventually will include up to 1,500 homes on 500 acres there known as East Area I.

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