Arctic Fish to explore a separate listing

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Norway Royal Salmon (NRS), which owns half of the Icelandic salmon farmer, wants to potentially increase its stake.

In a statement on the Oslo Stock Exchange, Arctic Fish, a company owned 50% by Norway Royal Salmon (NRS), writes that it has engaged DNB Markets, Pareto Securities, and Arion Bank as financial advisers to explore a potential listing on Merkur Market.

It is expected that a listing will take place within 1Q of next year.

“Norway Royal Salmon does not intend to sell any shares in connection with the potential transaction, and a potential outcome of the process is that NRS surpass 50 per-cent ownership in Arctic Fish following the transaction,” it wrote

Arctic Fish is an Icelandic salmon farming company currently operating at five sea sites in three fjords on the Westfjords peninsula of Iceland. It currently holds licenses for salmon farming with a 11,800 tonnes capacity and has applications for additional 21,100 tonnes.

The company expects to harvest 7,700 tonnes this year, and 11 700 tonnes in 2021, and to gradually move to 24,000 by 2025, according to its current business plan.