NTS considering spinning off fleet

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Considering a separate IPO of the company’s vessels.

Last week Mowi opened the sale of the company’s 50 per-cent stake in DESS Aquaculture Shipping. On Monday, NTS’s Board of Directors announced a strategic re-run of its wellboat, service vessels and freight operations to position the companies for further growth.

In May, the Icelandic fish farming business, Ice Fish Farm, was listed on Oslo Merkur with NTS as the main owner. Furthermore, NTS owns fish farming activities in mid-Norway through Mid-Norwegian Aquaculture and aqua service activities through Norsk Fisketransport, Fr√łyGruppen and NTS Shipping. NTS is also the largest shareholder in Norway Royal Salmon.

“NTS, through its aqua service business, is a leading provider of critical infrastructure services to the aquaculture industry in Norway. The company has good geographical diversification, a wide service offering, a modern fleet of 17 wellboats, 64 service vessels and four ships in the field of sea transport and around 700 dedicated and specialised aqua service employees,” the company wrote in a stock exchange announcement.

NTS wants to take an active role in further developing and realising the potential of the rapidly growing service industry. The business is experiencing high demand for its services and sees significant growth opportunities going forward. In connection with the strategic review, it will be considered that it lists the business separately.

NTS will update the market with the status of the strategic review as soon as it is completed.

Danske Bank Corporate Finance is engaged as NTS’s financial adviser.