Camanchaca processing facilities. (Photo: Camanchaca)
Camanchaca assesses placement of subsidiary on Norwegian Stock Exchange
CHILE
Thursday, September 21, 2017, 21:00 (GMT + 9)
Chilean salmon company Camanchaca has hired Norwegian bank DNB to evaluate a possible opening to the Oslo stock exchange, a plan intended to strengthen its financial position and boost its business, the company said Wednesday.
Camanchaca, one of the largest salmon producers in the world's second largest food supplier, informed the Superintendency of Securities and Insurance that the plan with DNB Markets could end in an Initial Public Offering (IPO) of one-third of its shares in Norway, the main salmon producer.
"This bank has been given a 12-month mandate to assess the opportunities that exist in the Chilean and Norwegian capital markets, with a special focus on the latter," the company said.
In the same letter, Camanchaca informed the reception of a proposed financing for USD 165 million by DNB and Rabobank, which will allow it to restructure its liabilities under more favourable conditions.
Earlier, local rival Multiexport Foods also reported a refinancing of liabilities of about USD 117 million with a group of Chilean and international banks.
Source: Reuters
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