File picture of the Santiago Stock Exchange, where the agreement was signed. Photo: Salmonexpert

Exchanges offer farmers a foot in each market

The stock exchanges in Oslo and Santiago have signed an agreement to facilitate the double listing of salmon farming companies in Norway and Chile.

Published Last updated

The Memorandum of Understanding establishes the conditions for exchanging information for the proper functioning of the negotiation of the securities of the salmon farming sector in the Chilean and Norwegian markets, said the Santiago Stock Exchange in a press release.

It also strengthens the links between the stock exchanges of the world’s biggest and second-biggest salmon farming countries.

Sharing knowledge

The cooperation agreement further considers exploring the option of listing other financial instruments, such as bonds and exchange-traded funds (ETFs); sharing information related to activities of the internal market; analysing the possibility of developing products that add value to both exchanges; and providing the knowledge that each stock market has of their respective sectors.

José Antonio Martínez, general manager of the Santiago Stock Exchange, said the agreement represented a valuable opportunity to work together with the Oslo Stock Exchange, which had a history of almost 200 years and which is a fundamental place for the aquaculture sector in which the main seafood companies of the world are quoted and traded.

Global exposure

Martinez added that “through this agreement we will have the opportunity to give greater global exposure to the Chilean capital market, giving visibility to our issuers, and generating investment spaces that contribute to the sustainable development of the market.”

Oivind Amundsen, executive vice president of primary markets and legal affairs of the Oslo Stock Exchange said the move would allow the Bors to expand its international scope, and would benefit share issuers who wished to expand their investment base. He added: “There is already the example of Salmones Camanchaca that has used this option through a double listing in Santiago and Oslo, and we certainly see potential for other companies to do the same.”

Currently, six salmon farming companies - Aquachile, Blumar, Multiexport, Salmones Camanchaca, Invermar and Australis - are listed on the Santiago Stock Exchange.