AquaChile main headquarters. (Photo: Stock File)

AquaChile shareholders approve listing process on Oslo Stock Exchange

The shareholders of Empresas AquaChile approved at an extraordinary meeting the board's proposal to make a capital increase for USD 200 million and list part of the company's shares in the Oslo Stock Exchange, Norway.

In this way, AquaChile will become the second Chilean salmon company to be listed on the Norwegian market, following the recent debut of Camanchaca.

The resources from the capital increase will be used to finance the company's investment plan, business opportunities, mergers and acquisitions that are presented in the industry.

The company fully complements the offer of new first issue shares with the placement of secondary shares in order to achieve adequate levels of liquidity and presence in the Oslo Stock Exchange.

The new shares would be offered in Chile and international markets under the format of depositary receipts registered in the Oslo Stock Exchange. After the performance of the transaction, the shares of AquaChile will be traded on the Santiago and Oslo exchanges through the latter in the case of the aforementioned deposit certificates.

"Our decision to list the company in Oslo is based on the opportunities that the Norwegian capital market offers us because it is a stock market in which the seafood sector has a high relevance; it is a true global financial centre for our industry," said Francisco Lepeley, the company's finance and administration manager.

AquaChile is an important player in the global salmon industry. In 2017, it recorded a net profit of USD 58.9 million and a consolidated EBITDA of USD 141.9 million, and this year it is expected production amounts to some 110,000 tonnes of Atlantic salmon, coho salmon, trout and tilapia.

Related article:

- Camanchaca awaits prompt approval to list on the Oslo Stock Exchange

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