Markets Archive
Scottish Sea Farms nets Grieg’s Shetland assets
Scottish Sea Farms is to become the new owner of Grieg Seafood’s Shetland operations, it was confirmed last night. The sale is worth NOK 1.9 billion or £164m, appreciably higher than the £140m figure predicted earlier in the year. The news will be seen as a tremendous lift for the 200 or so people who…
Read MoreGrieg confirms Shetland sale talks are ‘ongoing’
Grieg Seafood has confirmed that it is in talks with a third party to sell its Shetland business. The company ended months of speculation in an Oslo Stock Exchange announcement last night. Grieg said talks were ongoing – with an undisclosed company – adding that it would not comment further until a final agreement for…
Read MoreGigante Salmon to list on EuroNext
YET another fish farming company is about to list on the Oslo’s EuroNext stock exchange, it was confirmed yesterday. The latest contender is Gigante Salmon AS based in the coastal town of Bodø. Under the guidance of Sparebank 1 Markets, the company plans to raise NOK 192m (£16m) to help fund its growth plans and…
Read MoreIceland salmon farmers in merger talks
TWO of Iceland’s leading fish farming companies have agreed to initiate talks over a possible merger. They are Ice Fish Farm and Laxar Fiskeldi, both majority owned by the Norwegian company Måsøval which successfully raised £70m (NOK 825m) in a share issue in Oslo last week. The two business say they have begun exploratory negotiations…
Read MoreSpeculation grows over new bid for NRS
A tie-up between fish farmers Midt-Norsk Havbruk (MNH) and Norway Royal Salmon (NRS) could be on again, it emerged in Oslo last night. A proposed merger between the two was abruptly called off last November, but it was disclosed yesterday that MNH has now acquired an additional 14.45% stake NRS. Midt-Norsk Havbruk, which is part…
Read MoreSalmon Evolution signs South Korea deal
TWO key Norwegian companies have signed an agreement with Dongwon Industries for the 20,000 tonne K Smart Farming project in South Korea . They are the land based company Salmon Evolution ASA and the specialist turnkey supplier Artec Aqua. K Smart Farming is a South Korean company established with the purpose to develop, construct, own…
Read MoreDanish investor expands stake in Norcod
Norwegian seafood processor Isfjord Norway AS has sold its stake in cod farmer Norcod to Danish wealth management and investment company Artha. Norcod, which is also based in Norway, is expecting to complete its first commercial harvest later this year. Artha was already a major investor in Norcod, and Jan Severin Sølbæk, Co-founder and Managing…
Read MoreRussian Aquaculture sees margins hit in Q1
Russian Aquaculture saw a year-on-year increase in sales volume and revenue for the first quarter of 2021, but earnings took a hit thanks to lower market prices. The company is one of Russia’s leading producers of Atlantic salmon and trout. Q1 saw increased production volumes, with sales totalling 7,800 tonnes, up 28% on the same…
Read MoreMåsøval hits fund-raising target
Måsøval, the family-owned Norwegian fish farmer seeking to list on Oslo’s EuroNext Growth market, has succeeded in raising the NOK 825m (£70m) it needs to fund its growth ambitions – less than a week after unveiling its plan. The issue price was set at NOK 32.90 per share and this values the business at NOK…
Read MoreMåsøval sets out plans to go public
Måsøval AS, one of the early salmon farming pioneers, has become the latest in a long line of seafood companies to apply for listing on Oslo’s EuroNext growth market. Måsøval said it intends to raise NOK 825m (£70m) in various stages through a planned private placement in new and existing shares. The subscription price has…
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