Compañía Pesquera Camanchaca plans to take its Chilean salmon subsidiary, Salmones Camanchaca, public by the end of the year.
Its initial public offering will be made on the Oslo Stock Exchange in Oslo, Norway, the “largest seafood capital market in the world,” Camanchaca said in a statement.
In addition, the Chilean salmon supplier received USD 165 million (EUR 138 million) in financing for expansion plans. Along with its cash resources, Camanchaca anticipates that the new loans from DNB Bank and Rabobank will be used to repay all of its current financing facilities.
“We are excited about these new steps Camanchaca is taking to consolidate it as a world class salmon producer, which will open new opportunities globally and in the U.S. market, to continue serving our valued customers with top quality products and service,” said Cesar Lago, president of Camanchaca Inc.
"If an IPO is to be made in the OSE, Salmones Camanchaca would become the first Chilean salmon company and the only Latin American company to have a presence in the main seafood market in the world, where the main companies in the sector are traded, allowing us to consolidate our long term financial position, finance our strategic business plan and take advantage of the best opportunities presented in the salmon and fishing sector,” said Ricardo García, CEO of Compañía Pesquera Camanchaca and chairman of Salmones Camanchaca.
“We believe that, if these transactions are successfully materialized, it will leave us in an unbeatable position to deploy our strategic capabilities and capture market opportunities,” Garcia added.
