Chilean salmon farmer sees opportunities to boost valuation.
The integrated fishery and aquaculture company Camanchaca has announced that it has engaged Norwegian investment bank DNB Markets to explore the opportunities for listing its fish farming business at Oslo Stock Exchange, “which will strengthen the company’s financial position”.
“We believe that if this listing and capitalization materialize successfully, it will leave us in an unbeatable position to deploy our strategic capabilities and capture market opportunities. The financing proposal, on the other hand, is designed for that purpose and gives Camanchaca greater time and flexibility,” said Ricardo García, the company’s general manager, according to Undercurrentnews.
With a salmon production of 30,000 tonnes in 2016, Camanchaca is Chile’s fourth largest salmon farmer.
Camanchaca, which is very active in the pelagic fishery, is already listed on the Santiago exchange. The fishery and farming conglomerate traded for USD 488m in 2016.
According to Bloomberg, Camanchaca has a market value of USD 214m.