Land-based fish farmer Andfjord Salmon is listed on the Oslo Stock Exchange

News
3514

Andfjord Salmon is of today listed on the NOTC list at Oslo Stock Exchange.

“For us, this is an important milestone in the development of the company Helge Krøgenes, head of Finance and Business development, says.

NOTC is owned by Oslo Stock Exchange. Different from public OSE listed shares, NOTC shares are electronically untradable. However, a listing of shares on NOTC facilitates transactions of these stocks in private companies and can be traded through a stock broker. The same listing of these private shares provides for a transparent and timely pricing mechanism. Andfjord Salmon has developed a flow-through farming technology that is proprietary and patented. The company raised 150 million kroner (€15 million) in a private placement last February.

“Our technology will be the most sustainable in the aquaculture industry and we will be self-sufficient in energy by the use of solar panels and wind turbines. The facility is escape-proof, lice-free and its highly filtered effluent avoids polluting marine life. The construction of the facility is on budget and on time to stock smolts in the tanks by June 2020,” says Krøgenes.

In its phased build-out, Andfjord Salmon is focused on fully developing its allocated 10,000 tonnes concession for Atlantic salmon. Its next expansion calls for 60,000 tonnes at several different shore-based sites on Andøy’s east coast. Upon completion of this expansion, Andfjord will become the largest seawater flow-through salmon company of its kind.