Oslo, 25 November 2020 – The seafood company Kingfish has today been admitted to trading on Merkur Market (ticker code: KING-ME).
The Kingfish Company produces the Dutch Yellowtail, a high-quality, antibiotic-free marine finfish species.
“We are excited by our recent progress across production, sales, and expansion activities, and view the Oslo Merkur Market an enabling platform as we look to scale up our business and transform our first mover position into a long-term competitive advantage as a vertically integrated RAS aquaculture operator in the E.U. and the U.S.,” Kingfish CEO Ohad Maiman said in a press release.
Recently, the company raised NOK 535.5 million through issuing new shares. The net proceeds from the new issue will primarily be used to fully fund new capacity expansion in the company's facility in the Netherlands, acceleration of permitting and engineering for the United States roll-out plan and general corporate purposes at the current site in the Netherlands, Kingfish announced.
The shares in the new issue were sold at NOK 20.56 per share, corresponding to an equity value of NOK 1.39 billion.
Merkur Market will be renamed Euronext Growth 30 November as part of the transition to Euronext’s trading platform Optiq.
About Kingfish Incorporated in 2015, Kingfish produces the Dutch Yellowtail, a high-quality, antibiotic-free marine finfish species with daily deliveries across Europe. As of 2020, the company operates a facility with a run rate of 650 tons, while actively expanding in its Netherland site as well as in advanced permitting of a US site. The Company has a technologically advanced approach, using Recirculation Aquaculture Systems (RAS) offering a reliable, sustainable, and fully controlled production environment. www.the-kingfish-company.com/about