AquaChile To Sell $400M In Shares

Puerto Montt-basedEmpresas AquaChileis seeking to raise $350-400 million through a share sale,Bloombergreports. The company will sell 387 million shares, or a 30% stake, to acquire other salmon farms.

IM TrustandBanchile Citi Global Marketsare the advisors on the deal. After the IPO, AquaChile will have around $150 million to invest in other projects, with a focus towards market consolidation.

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