Andfjord Salmon admitted to trading on Oslo Stock Exchange’s Merkur Market

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Outfit behind world’s largest flow through site for salmon farming attracted significant investment earlier this month.

In a press release on the Oslo Stock Exchange, Andfjord Salmon writes that it is the first company to ring the bell at the start of trading since the start of the pandemic

Andfjord Salmon, aims to produce thousands of tonnes of salmon in a closed-sea facility filled with cold, lice-free seawater, raised around EUR 14 million through a share issue earlier in June and has on Tuesday been admitted to trading on Merkur Market.

“We attracted a lot of interest and the issue was significantly oversubscribed. The decision was therefore taken to expand the issue to NOK 150 million (EUR 13.8 million) from the planned NOK 120 million (EUR 11.5 million)”, explained Andfjord Salmon CEO Martin Rasmussen.

The company, based on the island of Andøya, Northern Norway, says it has developed a new concept for shore-based salmon farming. It is now accelerating its construction plans and its first tank will be ready at the end of 2020. The original plan was for it to be completed in 2021.

Rasmussen said being admitted to trading on the Oslo Stock Exchange was “an important milestone for Andfjord Salmon.”

“What is now happening in the Vesterålen archipelago is absolutely fantastic – not least the fact that the area has attracted such significant investment. I am absolutely delighted about this”, commented Odd Emil Ingebrigtsen, the Minister of Fisheries, to Bladet Vesterålen, a local newspaper, during a visit to Andfjord Salmon last week.

Andfjord Salmon has previously communicated externally that the long-term plans include a total production of 60,000 tonnes of fish per year, own smolt production and harvest plant. Today, the company has a licence for 10,000 tonnes of salmon per year.