Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Salmon farming centre in Chile. (Photo: Camanchaca)

After Camanchaca, DNB aims to perform further Chilean salmon firms' listings in Norway

Click on the flag for more information about Chile CHILE
Wednesday, November 01, 2017, 00:20 (GMT + 9)

The world's leading aquaculture bank says that if the placement of Camanchaca shares is successful, it would increase the interest of other firms. In addition, the entity lists the benefits of being listed in the industry's main global exchange.

Norway is the main competition for Chilean salmon companies, but national firms also have a close relationship with the Nordic country by jointly developing the global salmon market. Now, local companies could find a new ally in Norway: the Oslo Stock Exchange (OSE).

Camanchaca announced in September that it was evaluating a stock market opening of its subsidiary Salmones Camanchaca in said stock market, so it delivered a mandate to DNB Markets, the investment banking division of DNB Bank ASA.

Should it materialize, it would be the first Chilean company to be listed on the world's main seafood market, but it probably would not be the only one: Blumar and Friosur also announced their interest in following in the footsteps of the firm linked to the entrepreneurs Jorge Fernández and Francisco Cifuentes.

"If the placement of shares of Salmones Camanchaca in Oslo is successful, we believe that there may be interest from other salmon companies in Chile to be listed in the same stock exchange," they comment from DNB.

"We have outlined the objective of playing a preponderant role in assisting Chilean companies in the sector to raise liquidity in international markets and thus be able to finance profitable growth projects," says the entity.

Why so much interest of the Chilean salmon companies to be listed in Norway? There are several benefits, they argue from the Norwegian bank.

On the one hand, there is a growing trend for companies that are listed on the world's leading aquaculture stock exchange -- measured in terms of market capitalization and number of listed companies -- to receive more direct attention from investors versus firms that are listed on the Santiago Stock Exchange. "The foregoing is evidenced by the greater number of shares traded daily and also, by the greater coverage of expert analysts in the sector", they detail from the bank, adding that "these companies can expect greater liquidity in their shares".

Additionally, they highlight that "the universe of investors is highly sophisticated" in the Nordic market. Thus, considering the positive trend of the aquaculture sector, they are grateful to have diversification alternatives in the Chilean salmon market, points out the entity.

Another of the benefits mentioned by DNB for the salmon companies that make an opening in the main stock market of Norway, is that "the efficient regulation of the stock market of Oslo, allows to count on a little bureaucratic market that is accessible to any interested party from the point of view of costs".

In this way, the benefits would be several: "Chilean salmon companies could finance their investment and growth plans through the capital market of Oslo, considering competitive valuations, but in turn, allowing their shareholders to maintain control over them. After several difficult years in the industry, some counterparts could consider reducing their level of indebtedness through the placement of shares," they point out.

Finally, DNB highlights that access to fresh capital through the stock market of the Oslo stock exchange allows access to the Nordic bond market, "which has proved to be very competitive in terms of structure, price and processes".

Source: Mariana Marusic / Pulso

Related articles:

- Other salmon companies could follow Camanchaca and open to Oslo Stock Exchange
- Camanchaca negotiates and 'polishes' USD 165 million refinancing proposal
- Camanchaca assesses placement of subsidiary on Norwegian Stock Exchange
 


www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Aug 22, 03:00 (GMT + 9):
Federal grant offered to ensure farmed oyster safety
Chile
Aug 22, 02:50 (GMT + 9):
Salmones Camanchaca records an increase in profits of 222pct
Ethiopia
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Ethiopian to operate Norway seafood service
Canada
Aug 22, 02:40 (GMT + 9):
IN BRIEF - Fisheries officers seize 100 crates of lobster from seafood distributor
Australia
Aug 22, 02:20 (GMT + 9):
Australian fishing industry affected by warming oceans, FAO
United States
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Like a fish out of water: Barrels of bait spill on highway
Viet Nam
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Safety key for food exporters: conference
Iceland
Aug 22, 02:00 (GMT + 9):
IN BRIEF - Start-Up to Begin Algae Cultivation at Hellisheiði Power Plant
Argentina
Aug 22, 01:50 (GMT + 9):
Lagoon system project proposed to treat fishing liquid waste
Viet Nam
Aug 22, 01:30 (GMT + 9):
Vietnamese seafood exports to China to meet stricter requirements
Spain
Aug 22, 01:00 (GMT + 9):
Undersecretary of Marine Affairs promotes aquaculture specialization
Faroe Islands
Aug 21, 23:30 (GMT + 9):
Bakkafrost reports profit drop in Q2 but a strong H1
Chile
Aug 21, 23:00 (GMT + 9):
Participatory meetings on 'long bill' are analyzed
India
Aug 21, 22:00 (GMT + 9):
New cost-effective shrimp feed could benefit farmers
Thailand
Aug 21, 21:30 (GMT + 9):
NGOs urge Thai Govt to strengthen efforts to eliminate labour abuse from fishing industry



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Northern albacore fishery extended until August 23
Spain The Ministry of Agriculture, Fisheries and Food decided to extend the northern albacore tuna fishery until August 23, when the final closure will take place.
BioMar achieves strong results in H1 despite strong Norwegian competitiveness
Denmark Aquaculture feed supplier BioMar Group has achieved a growth in volume and revenue in the first half of the year compared to 2017, according to its parent company Schouw & Co.
Proposal of drone fishing surveillance raises strong controversy
Iceland A strong controversy has been generated in Iceland by a bill proposing drone surveillance to monitor Iceland’s fishing fleet to counteract the practice of discarding catch as well as weighing fraud.
Banned chemicals found in seafood sold at supermarkets
Hong Kong A study conducted by WWF-Hong Kong on seafood products sold at local supermarkets has revealed the presence of banned chemicals exceeding 2.5 times over international food safety limits.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER