Lumar to trade on MAB in June
Lumar Natural Seafood will trade on Spain’s Mercado Alternativo Bursátil (MAB) stock exchange. The company, of Pobra do Caramiñal, Spain, on 19 May received a favorable report from the Incorporations Commission and will begin trading in June.
The MAB is a market for small-cap companies looking to expand, with a special set of regulations designed with costs and processes tailored to their particular characteristics.
Lumar’s trading on the MAB is one further step in its growth strategy producing value-added frozen seafood products for international markets.
“The beginning of trading will permit us to gain more visibility and brand image, will generate more liquidity for investments in R&D&I, one of our differentiating elements, together with our respect for the environment and sustainability of natural resources, so we may set further foundations for the future growth of our company,” said Javier Martinez, managing director, who is leading the Lumar executive team that will manage the growth.
Lumar produces product for retail, foodservice and industrial sales. The company exports almost 70 percent of its production to markets in Western Europe (mainly Germany, France and Italy) and the United States. Lumar recently received permits from the Spanish Environmental and Fisheries Ministry to begin exporting to Russia.