Having gained approval for its listing from Oslo Børs, the Norwegian land-based salmon farmer Salmon Evolution AS ceased trading shares on Euronext Growth on 8 July and began trading on the main board of the Oslo Stock Exchange the following day.
No new shares were offered in connection with the listing.
Salmon Evolution CEO Håkon André Berg said he expects the move to increase interest in the company and thanked the Oslo Stock Exchange, shareholders, banks, partners, employees, and suppliers for the strong support given to the company. It has raised more than NOK 2 billion (USD 227.6 million, EUR 193.1 million) over the past 15 months.
“We’ve come a long way since our establishment in 2017. As we pass this very important milestone today, we’re making good progress on all fronts with completing phase one at Indre Harøy,” Berg said. “We’re travelling a lot to South Korea, where work is underway to establish another farm based on our hybrid flow-through technology. This is being pursued through a joint-venture with South Korean seafood group Dongwon Industries under the name K-Smart, which will develop, build and operate the planned facility.”
Salmon Evolution chair Tore Tønseth said he sees big growth opportunities.
“This is just the beginning. With our two projects, in Norway and South Korea, we have a unique platform for further expansion in both Norwegian and international markets. We’re convinced that demand for salmon is both long-term and growing, and see a huge opportunity for sustainable production of such fish on land. Our aim is to achieve a position of global leadership.”
On completion, the Indre Harøy facility on Norway’s west coast is expected to have an annual capacity of approximately 31,500 metric tons (MT) head-on-gutted weight (HOG). It’s joint-venture facility with Dongwon in Yangyang, Gangwon-do, South Korea has a projected annual production capacity of 16,800 MT HOG.
Photo courtesy of Salmon Evolution
