October 6,  2020

Salmon Evolution listed on Norway's Merkur Market

Following a successful share issue which raised kr500 million (US$54.4 million), Norway-based salmon producer Salmon Evolution Holding AS has secured a listing on Norway's Merkur Market marketplace under the ticker code SALME-ME in mid-September .

"We're very pleased that the issue earlier this month attracted substantial interest among Norwegian, Nordic and international institutional investors," said Håkon A. Berg, CEO of Salmon Evolution.

He said the company is proud that its shares can now be traded on Merkur Market, which is provided by Oslo Børs, the Oslo stock exchange.

"We appreciate that this is only one of many steps in a process where our clear ambition is to build an aquaculture company which will make its mark on the global salmon industry. We believe we have what it takes to succeed," Berg added.

Salmon Evolution is a land-based salmon farming business with its first production facility under construction at Indre Harøy in western Norway. While this initial phase has an annual capacity of 9,000 tonnes of fish, the farm will eventually be able to produce 36,000 tonnes a year. The company's global expansion plans envisage a total annual output of roughly 70,000 tonnes.

Capital raised from the share issue completed on September 4 will be applied partially to finance the first construction phase, continue development of the project and support general corporate purposes.

"The listing on Merkur Market has given us a new and effective instrument for ensuring access to additional capital at market price, while allowing us to reduce risk for current and future shareholders," said Berg.

He added that the listing contributes to orderly and transparent trading of Salmon Evolution's shares in a well-functioning system, which is also tailored to the company's present size and requirements.

- Salmon Evolution