Land-based salmon farming venture Proximar Seafood has raised a further NOK 400m (£34.5m) its latest share issue. The exercise is a further step forward for Proximar’s plans to build a salmon farm for the Japanese market in the foothills of Mount Fuji.
The private placement saw 24,691,360 new shares issued at a price of NOK 16.20 (£1.40), and the exercise was more than 10 times oversubscribed. The company says: “The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and family offices.”
Feed giant Nutreco was among the investing organisations, taking a stake for NOK 35m (£3m).
Proximar’s CEO Joachim Nielsen said: “We are excited about the significant investor interest and support for Proximar. We are now on track and will commence construction of the facility over the next months, bringing us one step closer to serving fresh Atlantic salmon on Japanese dinner plates on the same day as harvest.”
Proximar is also planning to have its shares admitted to trading on Euronext Growth Oslo. The first day of trading on Euronext Growth Oslo is expected to be shortly after completion of the Private Placement and is currently anticipated to be on or about 3 February 2021.