Chile’s salmon farmer, AquaChile, has sold shares worth $372 million through an initial public offering, The Wall Street Journal reports. The company listed a 33.45% stake on the Santiago stock exchange as part of a five-year investment plan, pricing 387 million shares at $0.96 each.
The central bank of Chile, as part of its $12 billion currency intervention program, acquired $50 million shares. The company intends to use the IPO proceeds to prepay debt, adds Reuters. Other funds will be used to finance the company’s $470 million investment plan for the next five years.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.