Chilean berry grower-exporter Hortifrut is reportedly to issue shares worth US$75m in order to finance an important expansion project.
The company plans to use the funds to develop new genetic material and value-added products which would be directed to the foodservice industry (restaurants and fast food chains, among others).
A special meeting will be held on 15 March in Chile, during which shareholders will vote on the proposal, according to a report by Estrategia.
The move would mark Hortifrut’s first step to floating on the Chilean stock exchange, the report said.
Hortifrut said the foodservice market presents much potential for growth around the world, Estrategia explained.
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