Camanchaca Equity Soft at Debut

Camanchaca Equity Soft at Debut

Equity

Pesquera Camanchaca was down CLP0.47 in its first day of trading, following an IPO that raised $227m, short of the $250m target. The seafood exporter and farmed-salmon producer issued 1.33bn shares, a 33% stake, at CLP82 each. Shares closed Wednesday at CLP81.43. The price comes roughly in the middle of analysts’ expectations, in a CLP70-CLP100 range. A price of about CLP92 would have meant hitting the $250m target. Demand reached CLP572.5bn, the issuer says, with 28% of the deal going to domest

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