Arnarlax to register on NOTC

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SalMar-controlled Iceland salmon farmers it will register on the Norwegian OTC list, owned and operated by Oslo Stock Exchange.

In a press release on Thursday, Iceland’s largest salmon farmer Arnarlax announced its registration and trading on the Norwegian OTC list from 15 November 2019.

“The core philosophy of farming Icelandic salmon by Arnarlax is to have a sustainable operation in harmony with nature adding to the range of high-quality premium seafood products from Iceland to the growing world population. In order to facilitate and build our responsible business conduct, we have had the privilege of being supported by a strong group of long-term professional shareholders”, said Arnarlax Chairman of the Board of Directors Kjartan Ólafsson.

Board of Directors Kjartan Ólafsson. PHOTO: LinkedIn

The company is fully integrated with its own hatchery, farming sites, processing plant, brand and sales force. Arnarlax is expecting to harvest approx. 10,000 tonnes HOG in 2019, up from 6,700 tonnes HOG in 2018. Arnarlax has licenses equal of approx. 25,200 tonnes maximum allowed biomass (MAB), and pending application for 14,500 tonnes more.

Majority shareholder in Arnarlax, SalMar posted on Thursday in its Q3 reports that the Icelandic salmon farmers posted “yet another positive result” which was was a sharp improvement due to better biological performance and operational improvements.

DNB Markets acted as financial advisor to Arnarlax in connection with the NOTC registration.