Andfjord Salmon’s share price up shoots up 69 per-cent in just one week

News
974

Now valued at EUR 105 million.

Andfjord Salmon was listed on the NOTC (Norwegian Over The Counter Market) at the end of August. Founder Roy B. Pettersen’s business idea is to produce thousands of tonnes of salmon in a closed-sea facility filled with cold, lice-free seawater.

The ambitious project will be the world’s largest flow through site.

In total, Andfjord Salmon aims to produce 70,000 tonnes of salmon annually in the planned flow-through plant. This will require investments of between EUR 70 million and EUR 80 million.

The company has long lived in the shadow of its more high-profile big brother Atlantic Sapphire, which has seen its share price swell for the past year and a half. Earlier in December, Atlantic Sapphire took on a “unicorn” position, a company valued at more than a 100 million dollars.

Sales and price trends have not been as resilient for Andfjord Salmon. From the company listed on the NOTC, the share price fluctuated between NOK 25 and NOK 32.

But this has changed.

Atlantic Sapphire vs. Andfjord Salmon. Source: Infront

From December 9, the share price has risen from NOK 29 to NOK 50. Over the past week, 80,000 shares have changed hands.

The company did not present price-driven news during the period.

Roy Pettersen is himself the largest shareholder in Andfjord Salmon, with its 24.9 per-cent of the shares. This ownership item has a value of EUR 37 million on Tuesday.