New Icelandic salmon farmer starts trading at Oslo Stock Exchange

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Trading of Arctic Fish shares starts today.

Arctic Fish Holding will start trading on Euronext Growth Oslo today after the successful private placement of EUR 60m announced on February 15th.

The ticker will be AFISH.

The primary part of the placement was EUR 35m, which will be used to fund growth initiatives along the company’s value chain. Arctic Fish targets a growth from 7,400 tons in 2020 to 24,000 tons in 2025. Operations are improving continuously, and the company expect to see “scale effects” when production increase further, accrding to a press release.

CEO Stein Ove Tveiten said: «We are very pleased with the improvements we have seen, with production costs in the sea farming already at Norwegian levels or lower, and we are looking forward to further improvements and to create a sustainable, significant and profitable operation here in the Westfjords.”

Icelandic pension funds and Icelandic private investors participated in the private placement and the Icelandic ownership has gone from 2,5% to around 10% after the transaction. NRS contributed with EUR 20m and increased its ownership from 50% to 51.3%.

DNB Markets and Pareto Securities acted as joint global coordinators in the private placement, and Icelandic Arion Banki as Co-Manager.