Oslo, 2 December 2020 – The land-based salmon farming company Nordic Aqua Partners has today been admitted to trading on Euronext Growth (ticker code: NOAP).
Nordic Aqua Partners will provide the Chinese market with salmon farmed in Ningbo, China.
“An IPO is absolutely crucial for a growth company like us,” says chairman of the board Ragnar Joensen in Nordic Aqua Partners.
Recently, the company raised EUR 55.1 million through issuing new shares. The placement was substantially oversubscribed and attracted strong interest from high quality Norwegian and international investors, announced Nordic Aqua Partners. The proceeds will be used to finance biomass, investments in production equipment, and general corporate purposes.
“We will be the first to deliver fresh locally produced farmed salmon directly to the Chinese consumer. This saves air freight costs and import duties, and significantly reduces the carbon footprint. We use cutting-edge Nordic technology and expertise built up over many years as we now build the first Recirculating Aquaculture System (RAS) facility for Atlantic salmon in China,” says Ove Nodland, who heads the Chinese subsidiary.
Nordic Aqua will start construction of the facility in Ningbo in January 2021, and plans first harvest in the autumn of 2023
The shares in the new issue were sold at EUR 7.64 per share, corresponding to an equity value of EUR 78.6 million.
About Nordic Aqua Partners Nordic Aqua Partners A/S uses cutting-edge Nordic technology and expertise built up over many years to set up the first fully integrated and commercially scaled Recirculating Aquaculture System (“RAS”) farm for Atlantic salmon in China, thus being able to deliver live and locally farmed Atlantic salmon to the Chinese market. The salmon will be farmed by Nordic Aqua (Ningbo) Co. Ltd., (“NAN”), the 100% owned subsidiary of NAP, located in Ningbo, China. www.nordicaquapartners.com