Morpol ASA on Monday announced that it has raised NOK 1.45 billion (USD 222.4 million, EUR 182.4 million) as part of its initial public offering.
The Polish salmon processor allocated a total of 66 million shares at NOK 22 (USD 3.39, EUR 2.78) per share. Morpol expects to begin trading on the Oslo Stock Exchange (Oslo Børs) on Wednesday.
“We are very pleased to see how positive Morpol has been received in the market. Despite challenging financial markets, Morpol has been able to attract a broad range of institutional investors with a wide geographical spread of shareholders,” said Morpol CEO Jerzy Malek in a prepared statement.
Morpol’s main products are cold- and hot-smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions and salmon specialties. Founded in 1996 in Ustka on the Baltic coast of Poland, the company posted 2009 revenues of approximately EUR 340 million and employs more than 3,000 workers in eight countries.
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