AquaChile will use the capital obtained to finance its investment plan and business opportunities that arise. (Photo: AquaChile)

AquaChile plans capital increase and to be listed on Oslo Stock Exchange

CHILE
Saturday, February 24, 2018, 02:30 (GMT + 9)

Empresas AquaChile announced that it plans to start the process to be listed on the Oslo Stock Exchange, Norway.

The company informed the Commission for the Financial Market (CMF) that it will hold an extraordinary shareholders' meeting to, among other issues, approve a capital increase of up to USD 200 million, through the issuance of payment shares or through the number of shares determined by the board.

"The purpose of the capital increase is to finance the company's investment plan and business opportunities, mergers and acquisitions that are presented in the industry," said AquaChile general manager Agustín Ugalde Preuss.

The company´s  Board of Directors intends to record a portion of the new shares issued to be traded in foreign securities markets, through certificates of deposit of such shares or other negotiable instruments, as well as their registration in the Oslo Stock Exchange.

"Our decision to list the company in Oslo is based on the opportunities that the Norwegian capital market offers us because of the high relevance of the seafood sector in that market, and because of its broad and sophisticated base of specialized investors and analysts. We have been analyzing this idea for quite some time, and we believe that it is the right moment to take this step, "explained Ugalde.

If the proposal of the company's board is specified, Aquachile will become the second Chilean salmon company to be listed on the Oslo stock exchange, following the recent arrival in that market of its rival Salmones Camanchaca.
 

Related article:

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

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