BioMar, one of the world’s largest fish feed companies has outlined details for its proposed Initial Public Offering (IPO) on the Nasdaq Copenhagen, Denmark’s main stock market.
The IPO price range is set at 100 Danish kroner (£11.62p) to DKK 108 (£12.5) per share, each with a nominal value of DKK 2.50 per share.
This would probably give BioMar, which is a subsidiary of Schouw & Co a market value of around DKK 10 billion (£1.16 bn)
BioMar CEO Carlos Diaz says: “Today is a significant milestone in BioMar’s history. A separate listing of BioMar will offer investors the opportunity to invest in a leading pure-play aquaculture specialist positioned at the centre of an expanding global industry.
BioMar’s strong commitment to advancing efficient and sustainable aquaculture through feed solution and feeding technology, combined with our long and profitable growth track record in a market supported by rising global demand for farmed fish and shrimp appears to resonate well with potential investors.
He added: “We see the commitment from cornerstone investors to subscribe for more than 50% of the offering as a vote of confidence in BioMar’s long‑term potential and our ability to deliver on it.”
Schouw & Co. CEO and BioMar Chair, Jens Bjerg Sørensen said: “What was once a smaller regional player has grown into a global business and is a leading provider of feed solutions in a structurally expanding industry. A separate listing of BioMar is fully aligned with Schouw & Co.’s strategy of long‑term transformation and future‑proofing of our portfolio businesses.”
“At the same time, it provides an opportunity to unlock financial capacity for investments in existing or new portfolio businesses, while retaining a majority shareholding in BioMar.”
BioMar operates 16 feed production sites in Norway, Chile, Denmark, and Scotland – in fact almost everywhere there is substantial aquaculture production. Earlier this month it reported a strong first quarter EBITDA of DKK 212 million (£24.6m).