The stock exchanges of Santiago, Chile and Oslo, Norway have signed a memorandum of understanding in order to encourage the listing of salmon firms on both exchanges.
According to a statement from the Santiago exchange, the understanding also establishes conditions to exchange information between the two institutions to improve the conditions to negotiate shares on these two markets.
To mark the MoU, a ceremony took place in Santiago which included the general manager of the Santiago exchange, Josè Antonio Martìnez, and the vice president of primary markets and legal affairs of the Oslo Bors, Oivind Amundson, and his colleague Lars Jacon Brarrud, senior vice president of listings.
The cooperation agreement considers exploring the possibility of other instruments like bonds and exchange traded funds (ETFs); the sharing of information related to each internal market; analyzing possibilities to develop other products that add value to both exchanges; and knowledge-sharing on their respective sectors.
Martìnez said the agreement gives greater visibility globally to Chilean capital and the exchanges listees, and highlighted the importance of the Oslo Børs to the aquaculture industry, thus “generating investment spaces that contribute to the sustainability of the market.”
Amundsen said that the agreement will also benefit Børs listees who want to expand their international base, and vice versa.
“There is already the example of Salmones Camanchaca that has used a double listing in Santiago and Oslo and clearly we see potential so that other companies do the same,” Amundsen said
Five Chilean salmon firms list on the Santiago market: AquaChile, (which is in the process of being acquired by AgroSuper), Multiexport, Salmones Camanchaca, Invermar, and Australis.
Camanchaca successfully held its IPO earlier this year, using the capital to boost its production and finance organic growth.
Photo courtesy of Santiago Stock Exchange
