Salmones Austral gets IPO approval, but can’t list until COVID 19 calms down

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Chilean salmon farmer plans to list on the Santiago Stock Exchange.

Aqua.cl reports that Salmones Austral has been given the nod from the Financial Market Commission (CMF) to register its company and its shares in the Securities Registry, with which the company passed the last regulatory step before making an Initial Public Offering (IPO ).

The salmon farmer, which was previously called Pacific Star but is now called Salmones Austral since it merged with Trusal in 2013, first announced its intention to be listed last November.

Latin Finance added that Salmones Austral hopes to raise USD 47.7 million from a share sale before the end of the second quarter this year to expand operations.

However, it acknowledged that the last step could take time because of the pandemic.

“Registering the company is an important step for the company. We understand that the current situation worldwide is complex given the emergence of the coronavirus, so the opening to the Stock Exchange will be finalised once the conditions are in place to do so,” declared Salmones Austral Director Christian Samsing.