Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Pescanova facilities on Beiramar Avenue, in Vigo. (Photo: HombreDHojalata - CC BY-SA 3.0)

Pescanova shares still inhibited, after filing a tendering process

Click on the flag for more information about Spain SPAIN
Tuesday, March 05, 2013, 01:20 (GMT + 9)

Pescanova shares remain inhibited, after going public again for a short time on Monday, following the cancellation of the temporary suspension of the stock market quotation of the securities, which had been imposed by the National Securities of the Market Commission (CNMV) .

On Friday, the CNMV argued that it had taken the decision to cancel Pescanova share quotation "for unusual circumstances that could disrupt the normal course of operations on the value," after Pescanova Board of Directors decided not to perform the annual accounts of 2012 given the possibility of presenting bankruptcy proceedings, the newspaper La Voz de Galicia reported.

On Thursday, the Galician multinational firm requested CNMV to assess "whether to provisionally cancel the share quotation," the agency Europa Press reported.

After an auction period which lasted just half an hour, in the volatility auction before its full price the Spanish canning firm’s securities recorded a drop of 20 per cent, after being settled at USD 17.40 on Thursday, EFE agency reported.

The company is going through a difficult financial situation, so last Friday it filed a tendering process in an attempt to renegotiate the debt with banks.

The liabilities of the group have been estimated at around EUR 1,600 million while at the end of September 2012 it amounted to EUR 1,522 million.

The creditors of the receivership are Sabadell-CAM, with approximately EUR 200 million; NCG, with EUR 150 million; La Caixa, with EUR 150 million; Popular, with EUR 100 million; Santander, with EUR 80 million; Bankia, with EUR 75 million; Unicaja with EUR 60 million; Caixa Geral, with EUR 50 million; and Liberbank, with EUR 45 million.

Between January and September 2012, the company's turnover rose by 8.9 per cent, reaching EUR 1,149 million, and the international business grew by 14 per cent.

Meanwhile, sales in the domestic market rose 2.8 per cent "as a result of the strong presence of the group in the seafood sector," the newspaper El País reported.

In June 2012 Acuinova Chile, a Chilean subsidiary of Pescanova, at the Securities and Insurance Superintendency presented its intention for 49 per cent of the firm to go public, but the requirement of the pre-bankruptcy proceedings completely halted the company's aspiration.

Acuinova hoped to obtain EUR 46 million at the market with the issuance of more than half a million of shares to "finance the development plan for the coming years, which includes capital expenditures for setting new feedlots in seawater" in plants that it has in Aysén and in Magallanes, newspaper Faro de Vigo reported.

Related articles:

- Pescanova share quotation suspended
- Acuinova Chile launches stock market

By Analia Murias
editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
United States
Jul 30, 01:30 (GMT + 9):
Seattle hospital first to receive MSC certification
United States
Jul 30, 00:50 (GMT + 9):
Legislators push for stricter efforts against fraudulent labelling
United States
Jul 30, 00:00 (GMT + 9):
IN BRIEF - Darden completes USD 2.1 billion sale of its Red Lobster chain
Rwanda
Jul 30, 00:00 (GMT + 9):
IN BRIEF - Products: Safeway's Sustainable Seafood
United States
Jul 30, 00:00 (GMT + 9):
IN BRIEF - Drought, disease among factors behind shortage of Texas oysters
Canada
Jul 30, 00:00 (GMT + 9):
IN BRIEF - Caught off-guard by 2010’s sockeye record, processing plants have geared up for a repeat
France
Jul 30, 00:00 (GMT + 9):
IN BRIEF - Kite systems offer a great alternative to traditional floats on fishing trawls
Mexico
Jul 29, 23:30 (GMT + 9):
Biotechnology will help improve trout production
Worldwide
Jul 29, 22:50 (GMT + 9):
SPF report identifies opportunities to improve tuna fisheries
Chile
Jul 29, 22:00 (GMT + 9):
Seafood export value grows despite volume drop
United Kingdom
Jul 29, 06:40 (GMT + 9):
IN BRIEF - Salmon stocks at risk as sand eels are overfished
United States
Jul 29, 06:40 (GMT + 9):
IN BRIEF - Donation of USD 40,000 to fund innovative aquaponics program
Australia
Jul 29, 06:20 (GMT + 9):
IN BRIEF - Deep-sea cameras reveal commercial fisheries having little impact on seafloor biodiversity
Palau
Jul 29, 06:20 (GMT + 9):
IN BRIEF - Pacific leaders to discuss climate change, sustainable fishing during Pacific Islands Forum in Palau
Iceland
Jul 29, 06:20 (GMT + 9):
IN BRIEF - Fish catch in June has increased between years



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Jealsa has an eye on Brazil
Spain The Spanish company Jealsa Rianxeira aims to lead the canned fish sector in Brazilian territory by building a 100,000 square metre plant and generating a thousand jobs.
ASC products becoming popular in Netherlands, Germany
Netherlands ASC certified products are growing in recognition and popularity in the Dutch market, and gaining ground in Germany, according to a new report commissioned by the organisation.
Bigeye tuna fisheries worsening, new assessments show
New Caledonia New assessments on the status of key regional tuna stocks recently released by the Secretariat of the Pacific Community show that bigeye has now been reduced to less than 20 per cent of its unfished stock size.
More viable lobster licence reduction plan to be implemented
Canada Fisheries and Oceans Canada developed a new plan to allow Prince Edward Island and Nova Scotia fishermen to hold more than one lobster licence and reduce the number of traps in the water.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel ehf - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Grupo Calvo - Luis Calvo Sanz, S.A. (Group Headquarter)
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council  - MSC Worldwide
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2014 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER