May 23, 2011
Australis Seafoods to be listed on stock exchange
Australis Seafoods is putting approximately 15% of its stock ownership on the stock exchange, a move with which funds will be increased to support its developing plan on June 9.
In particular, it involves working capital and fixed assets for production in seawater and fish farms to achieve a production of 80,000 tonnes of Atlantic salmon, coho and trout by 2015.
For the period 2011-15, the company will invest US$274 million, part of which will be collected in this operation.
Superintendencia de Valores y Seguros (SVS) has approved the request submitted by Australis Seafoods to perform a capital increase by a total of 187 million shares.
Australis Seafoods CEO, Andrés Saint Jean, pointed out that the company is the fastest-growing salmon industry worldwide and the leading supplier of Atlantic salmon eggs in Chile. This, coupled with an unharmed financial position, locates it in an excellent position to become the main participant in the medium term.
Currently, Australis Seafoods plans to occupy the fourth position as salmon exporter in Chile after having operated for four years and presented a production of approximately 32,000 tonnes. Between January and March 2011, the company ranked as the fifth salmon seller, with exports of US$43.1 million, according to the media.
"Australis Seafoods business plan is based on a strong presence in freshwater and seawater, and in the great capacity and vision of a team that has had successful experience in this industry for over 20 years," said José Miguel Barros, Director of Corporate Finance of LarrainVial.
Australis Seafoods has 10 farms distributed in five regions in the country and 48 sea aquaculture concessions in 16 districts and more than 100 applications in process and in different stages of the allocation.
In this IPO process, the company is advised by LarrainVial Brokerage as structuring and placing agent and by BaraonaMarré Lawyers as legal advisors.
