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Salmones Camanchaca to be delisted from the Oslo Stock Exchange

Salmones Camanchaca to be delisted from the Oslo Stock Exchange

 


The board of directors of the salmon farming company Salmones Camanchaca, based in Santiago, Chile, has unanimously decided to begin the process of delisting Oslo Stock Exchangethe company reported in a June 24 statement.

According to the statement signed by Salmones Camanchaca CEO Manuel Arriagada, the company has decided to stop trading its NDR share certificates because “currently, less than 2.9% of Salmones Camanchaca shares are held by NDR holders, and transactions of these certificates are practically non-existent.”

The board said it could therefore not justify the costs associated with maintaining listing on the Oslo Stock Exchange.

However, the board of directors confirmed that Salmones Camanchaca will remain a publicly traded company in Chile, and its shares will continue to be traded on the Santiago Stock Exchange. The company said it lacked information to estimate the financial effects the decision might have on its assets, liabilities or financial results and could not estimate the potential implications the decision would have on stock prices. actions.

Salmones Camanchaca recently closed the first quarter of 2024 with a net loss of $1.3 million (1.2 million euros), compared to a net profit of 7.9 million dollars (7.3 million euros) recorded during the same period of the previous year, while the increase in costs associated with weak demand had an impact on the company's results.

The Company's revenue for the first quarter of 2024 increased slightly by 3% year over year to $117 million (EUR 108 million), compared to $114 million (EUR 105 million) in the first quarter of 2023, driven by higher sales volumes of Atlantic salmon and coho salmon.

These sales volumes were slightly offset by the average price of Atlantic salmon falling by 13 percent over the annual period to USD 6.76 (EUR 6.22) per kilogram of whole fish equivalent (WFE), while coho fell by 27 percent to USD 4.75 (EUR 4.37) per kilogram WFE.

Sources

1/ https://Google.com/

2/ https://www.seafoodsource.com/news/business-finance/salmones-camanchaca-moves-to-de-list-from-oslo-stock-exchange

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