Norwegian land-based salmon farming company Salmon Evolution ASA has confirmed that it successfully achieved a private placement, raising gross proceeds of approximately NOK 300 million.
In a statement, the company said that its board of directors has allocated 33,333,333 offer shares at a subscription price of NOK 9 per share.
“The private placement attracted strong interest from Norwegian, Nordic and international high-quality investors and was significantly oversubscribed,” Salmon Evolution said.
It also advised that net proceeds from the private placement will be used to partly-fund the second phase of the salmon farming facility at Indre Harøy; to expand the capacity at the smolt facility Kraft Laks AS; and for general corporate purposes.
Salmon Evolution’s first production facility is under construction at Indre Harøy, located on the Norwegian west coast, with the entire project designed for an annual capacity of approximately 31,500 tonnes HOG fish.
The company has also entered into a joint-venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG.
Both facilities will use Salmon Evolution’s hybrid flow-through system technology (HFS).
