Rally in Santiago after Camanchaca’s Oslo plans

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Could more Chilean fish farmers follow Camanchaca to Norway?

Thursday it became known that the Chilean fishery and fish farming conglomerate Camanchaca is considering listing on the Oslo Stock Exchange. As SalmonBusiness commented, salmon farming stocks are currently valued considerably higher on the Oslo Stock Exchange than is the case on the Santiago Stock Exchange.

And investors who follow Camanchaca have noticed this!

Stock price of Camanchca. Illustration: Bloomberg

In the wake of the news, the share price skyrocketed. Camanchaca’s share price is up by 12.5 per cent on Thursday. According to Bloomberg, Camanchaca shares last traded for 36.00 Chilean pesos.

But it’s not just Camanchaca that has seen a rise.

AquaChile (+7.3 per cent) and Multiexport Foods (+7.4 per cent) also are booming, possibly on the back of speculation that more Chileans can accompany Camanchaca to the Oslo Stock Exchange.

The latter company also announced bank refinancing for 100 million dollars earlier today.