China Fishery cancels Oslo listing

China Fishery Group Ltd. has canceled a secondary listing of its shares on the Oslo Stock Exchange, parent company Pacific Andes International Holdings Ltd. announced on Friday, citing turbulence in European markets.

Despite the cancellation, "the company will be in a stronger financial position to fund business growth and investment opportunities as and when they arise," said China Fishery in a statement to the Singapore Exchange.

In early June, the Hong Kong-based seafood producer indefinitely postponed the listing to evaluate potential acquisitions.

In early May, China Fishery Group acquired Peruvian fishing company Deep Sea Fishing for USD 18 million (EUR 14.1 million). Less than two weeks later, the company netted another Peruvian fishing company, Pesquera Alejandria, for USD 95 million (EUR 76.5 million), making it the sixth largest fishmeal producer in Peru.

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