Oslo Bors, Norway. (Foto: Valugi/CC BY-SA 3.0)

Other salmon companies could follow Camanchaca and open to Oslo Stock Exchange

Last month, Chilean salmon company Camanchaca reported that it had hired the Norwegian bank DNB Bank ASA to evaluate a possible opening to the Oslo Stock Exchange in order to strengthen its financial position and boost its business.

Now, other Chilean companies in the sector do not rule out following in their footsteps, as it is the case of Blumar and Friosur.

"We can not close to the opportunity and we are following them with attention," Blumar general manager Gerardo Balbontín told Pulse. "We are open to the stock market, but if we see that there is value and at some point we need to make some capital increase, of course that is an option," he added.

For his part, SalmonEx director Arturo Clement considered that this new opening would give liquidity to the sector. "It's a big step in the maturity of the industry to be able to trade on the Oslo stock exchange," he ensured.

Meanwhile, Friosur Vice President Carlos Vial said that "like all things, if someone comes and makes an attractive offer" they would be willing to evaluate it.

The outlook for the Chilean salmon industry is favourable now and it is being closely watched by mainly foreign banks, with whom they have been in talks for funding, Pulse said.

In this regard, Dag Sietmo, Senior Vice President of the Foods & Seafood area of ​​the Norwegian bank DNB Bank ASA, stated that "Chilean companies in general have come out of the crisis in which they were involved and are doing so much better than before."

According to Sietmo, prices in the medium and long term would remain at current levels, and due to the current recovery of the sector, there is more trust on the Norwegian banking system at present than before. This situation is encouraging Chilean companies to seek financial assistance abroad to refinance their liabilities.

Related articles:

- Camanchaca negotiates and 'polishes' USD 165 million refinancing proposal
- Camanchaca assesses placement of subsidiary on Norwegian Stock Exchange

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