Low export prices, pandemic cause new delay in Salmones Austral stock listing
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April 29, 2021 09:43 BST
Chilean salmon farmer Salmones Austral has decided to wait until 2022 to register the company and sell its shares in an initial public offering (IPO), once financial conditions are expected to be more favorable. [.]
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Ecuador and Chile customers took a hit as the critical foodservice market struggled, but salmon feed volumes remained high and the company is bullish on 2021.
Chilean salmon farmers Salmones Austral, Yadran and Marine Farm paused operations on Friday in Quellon on the southern Chiloe island as part of a drive to combat the spread of the deadly coronavirus, trade association SalmonChile said.
Operations were paused to allow a comprehensive polymerase chain reaction (PCR) testing program to be carried out under an industry plan overseeing sanitation of all sites experiencing outbreaks.
SalmonChile Territorial Director Tomas Monge said the companies made the pause voluntarily, and noted that since last Jan. 18, only workers testing negative for COVID-19 have been in the facilities.