Atlantic Sapphire seeks US market listing
Atlantic Sapphire, the Florida-based salmon farming company, is reported to have applied to register on the US OTCQX market, which offers enterprises the opportunity to expand their visibility and expand investor access.
To qualify companies have to meet high financial standards and follow best practice corporate governance as well as demonstrate compliance with US securities laws.
It is almost five months since Atlantic Sapphire realised a 10-year long dream by harvesting its first Bluehouse Salmon™ from its new RAS land farm near Miami. It says its fish reaches US consumers at a fraction of the carbon footprint of fish farmed in Norway.
Norwegian media are reporting that Atlantic Sapphire filed for listing in the first quarter of this year.
Both industry observers and investors are closely watching developments at this company which believes that the sunshine state is the ideal location for its new RAS farm because of access to both fresh and salt water which it believes make the best combination to raise salmon.
The OTC (over-the-counter) QX move comes as the company’s fourth quarter report shows its sold its so-called “superior quality” salmon at an equivalent price of NOK 100 a kilo (US$12), more than double figure salmon breeders in Norway have been receiving these past few weeks.
The overall average price was $9.4 or just over NOK 80 a kilo. The company said: “The price in the USA is affected by the fact that the first batch had a lower share of superior. We expect to see an increase in the superior share in lot 2, and then around 95% superior share – the same as we have in Denmark.”