Nordic Aqua Partners is contemplating selling shares to raise funds to expand its Atlantic salmon production capacity.
The private placement of 4,615,384 new shares in the company would provide gross proceeds of approximately NOK 300 million, if they are offered out at a price of NOK 65 per share offer.
Share proceeds will be used to accelerate the company’s project to expand the production capacity of Atlantic salmon from 4,000 tonnes p.a. to 8,000 tonnes p.a. at the facilities in China, as well as for general corporate purposes.
Share offer
Kontrari AS, the second largest existing shareholder in the company (directly holding 10.2% and indirectly 1.8% of the shares outstanding), has pre-committed to subscribe for approximately NOK 200 million in the private placement.
Israel Corporation Ltd, a new investor in the company, has pre-committed to subscribe for approximately NOK 100 million.
The pre-commitments cover the private placement in its entirety, but depending on applications received and allocations made, allocation may be scaled back in order to improve the overall free float in the company’s shares.
However, the two companies will receive a guaranteed minimum allocation of NOK 62.5 million and 125 million, respectively.
SpareBank 1 Markets AS and Pareto Securities AS have been retained as joint bookrunners to advise on and carry out the private placement.
The application period is expected to close on 9 February 2023 at 16.30 CET.
