AquaChile Raises $372M In IPO

Chile’s salmon farmer,AquaChile, has sold shares worth $372 million through an initial public offering,The Wall Street Journalreports. The company listed a 33.45% stake on theSantiago stock exchangeas 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, addsReuters. Other funds will be used to finance the company’s $470 million investment plan for the next five years.

Click here for the story fromThe Wall Street Journal.

Click here for additional coverage fromReuters.