China Fishery delays IPO


SeafoodSource staff

Published on
June 2, 2010

China Fishery Group Ltd. is delaying a secondary listing of its shares on the Oslo Stock Exchange, parent company Pacific Andes International Holdings Ltd. announced on Wednesday.

The Hong Kong-based seafood producer said it’s indefinitely postponing its initial public offering to evaluate potential acquisitions. The company said it will announce a new timetable for an IPO consulting with lead managers ABG Sundal Collier Norge ASA and SEB Enskilda AS.

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.

China Fishery is listed on the Singapore Stock Exchange.

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