Share price recovery continues
The price per share of these companies started decreasing by the end of Q1 2013 (probably linked to the notification of several ISA virus outbreaks) and continued declining for the rest of the year, to set new lows by the end of 2013. Share prices began to recover last year, although most companies except Aquachile and Blumar are still well below the opening prices at the time of their IPOs.
For example, AquaChile started this year with a share price of CLP$ 395 (~US$ 0.64) and reached CLP$ 425 (~US$ 0.69) by February 20th - a 7.6 per cent increase over seven weeks. The last time the company experienced a price per share that high was in June 2011, one month after getting listed.
Likewise, Multiexport recorded a share price of CLP$ 129.80 (~US$ 0.21) on New Year's day and CLP$ 132.00 (~US$ 0.22) by the end of last week, representing a 1.7 per cent increase. In the past two years, the highest price per share for Multiexport was recorded on March 5th, 2013. That price was CLP 163 (~US$ 0.26). Meanwhile, the day of its IPO in mid-2007, the price closed over CLP 345 (~US$ 0.56) per share.
Australis Seafoods registered a similar situation. The company started this year with a share price of CLP$ 34.98 (~US$ 0.057) and marked CLP$ 36.30 (~US$ 0.059) last Friday, representing a 3.8 per cent increase this year. In early March 2013 the company reached its highest price per share in the past two years, which was CLP$ 95 (~US$ 0.15), while the day of its IPO in mid-2011, the company posted a closing price of CLP$ 187.43 (~US$ 0.30).
In addition, Blumar and Camanchaca, listed companies with salmon producing but also fishing divisions, recorded almost identical share price trends in the past two years. However, Blumar has experienced a slight decline in the last three months, despite being the salmon producing company that has reported best production indexes and results in recent quarters.
By contrast, Invermar has experienced a steady decline throughout this period, probably due to the delicate financial situation of the company (debts of ~US$ 150 million). This constant low has only been interrupted by the bids made by Aquachile last November and Alimar a couple of weeks ago. The company recorded its best result in the past two years (CLP$ 131.48 or ~US$ 0.21) on March the 12th, 2013, but has seen a non-stop collapse down to CLP$ 42.50 (~US$ 0.07) on February 20th. The closing price recorded on the day of its IPO, in late 2005, was CLP$ 219.99 (~US$ 0.36).
