April 14, 2011
 

AquaChile allows its shares to be on stock exchange

After getting approval from the Superintendence of Securities and Insurance (SVS), AquaChile will open 30% of its property in the Santiago Stock Exchange, in May.

The decision to open the company to the stock market aims to enhance the company's growth, confirmed AquaChile.

Currently, the company is present in Chile, the US, Panama and Costa Rica, and exports its products to 40 countries.

Financial advisers and underwriter agents will be opening IM Trust and BanChile-Citi.

According to Alfonso Marquez de la Plata, AquaChile's CEO, the IPO (Initial public offering) is an important step which is part of the company's strategy to strengthen its growth and financial position, with the intention to feed the world with healthy products such as salmon, tilapia and trout.

In 2010, the company consolidated its recovery process with profits of US$58.1 million, while EBITDA reached US$67 million, amount that takes into consideration of the biomass value of US$16.9 million, reported the media.

Last year, AquaChile positioned first in the ranking for exporters in the sector, with 32.613 net tonnes, which represented a 11.3% share of the market.

AquaChile is the sixth seafood producer in the world, developing business throughout the production chain of the industry, from genetics to the marketing of its products.