May 23, 2011

AquaChile raises US$372 million in IPO

Chilean salmon producer, AquaChile, raised US$372 million on May 19 with an initial public offering.

The company listed a 36% stake on the Santiago stock exchange as part of a five-year investment plan, pricing 387 million shares at CLP453 (US$0.97) each.

AquaChile Chairman Victor Hugo Puchi said that some of the IPO proceeds will be used to prepay debt contracted during the worst years of the ISA virus crisis. He said other funds would be used to finance the company's US$470 million investment plan for the next five years.