Camposol Holding is planning an initial public offering to raise US345m to fund the expansion of its fresh fruit and shrimp business.
“Around 40 per cent will be invested in planting of additional hectares for blueberries and acquiring new land for avocado, an additional 40 per cent in expanding our intensive shrimp operations, and around 20 per cent in expanding productive capacity in other fresh foods such as tangerines and grapes,” the company said in its registration statement.
Camposol is to list on the New York and Lima stock exchanges in a dual offering according to its filing with the US Securities and Exchange Commission on 14 November. It did not disclose the number of shares it will offer or the price ranges.
Camposol’s sales grew 37.2 per cent to US$240.6m in the first nine months of 2017, driven by strong avocado sales and prices and higher shrimp volumes.
The IPO caps a milestone year for Camposol, which included the opening of an office in Shanghai – making it the first Peruvian company to establish a direct presence on the Chinese market – and the launch of a new blueberry brand, The Berry That Cares.