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
Spain
Apr 27, 21:50 (GMT + 9):
Fresh fish landings keep falling
Spain
Apr 27, 03:30 (GMT + 9):
Galicia supports gradual fish discard elimination
Chile
Apr 27, 03:00 (GMT + 9):
Chinese delegation inspects fishmeal and fish oil
Argentina
Apr 27, 02:30 (GMT + 9):
Argentina and Russia agree on aquaculture cooperation
Canada
Apr 27, 01:50 (GMT + 9):
LIFO policy is devasting NL economy, shrimp committee study confirms
Thailand
Apr 27, 00:10 (GMT + 9):
TUF reveals expansion plans in India
Canada
Apr 25, 03:20 (GMT + 9):
IN BRIEF - Cooke Aquaculture cleaning up salmon cage debris from St. Mary's Bay
United Kingdom
Apr 25, 03:20 (GMT + 9):
IN BRIEF - Vets condemn EU rules which demand organic fish farms must treat any signs of illness using HOMEOPATHY
Worldwide
Apr 25, 03:10 (GMT + 9):
IN BRIEF - Research shows impact of BMR on brain size in fish
United Kingdom
Apr 25, 03:10 (GMT + 9):
IN BRIEF - GBP 20m fish park dream unveiled
Ghana
Apr 25, 03:10 (GMT + 9):
IN BRIEF - Fish imports gap widens
Thailand
Apr 25, 02:40 (GMT + 9):
IN BRIEF - Thailand eyes fast action to crack down on illegal fishing
Australia
Apr 25, 02:40 (GMT + 9):
IN BRIEF - Customs nabs notorious illegal fishing boat
Canada
Apr 25, 02:40 (GMT + 9):
IN BRIEF - Lobster season delayed because of ice conditions
Thailand
Apr 25, 02:40 (GMT + 9):
IN BRIEF - Indonesia agrees to join fisheries panel



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Land-raised Atlantic salmon makes headway into the market
Canada A year after being launched into the market, KUTERRA Land Raised™ Atlantic salmon has shown it is possible to produce a high-quality, sustainably farmed premium salmon using very little energy, water or land, without antibiotics or pesticides.
Researchers call to consider carbon footprints in seafood eco-labelling
New Zealand A new study has led researchers to call for a review of seafood ‘eco-labels’, which currently exclude consideration of the substantial carbon footprint left by the seafood industry.
Indonesia Govt intends to aid Thai fishing sector
Thailand Thai authorities decided to accept Indonesia government’s proposal to form a joint task force to combat illegal fishing.
New anti-shrimp pesticide permit granted to oyster growers
United States Shellfish growers from Washington state have been granted a permit for use of a common household pesticide to combat a growing population of burrowing shrimp in Willapa Bay and Grays Harbor.
 
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-
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 Headquarters
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 - 2015 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER