Dutch fish farm company Kingfish plans Norwegian IPO to fuel expansion
Brian Gratwicke via Flckr
Dutch fish farming company Kingfish plans to launch on the Oslo stock exchange to generate tens of millions of euros to fuel its expansion.
Kingfish plans to use the capital to expand its activities in the Netherlands and in the US, the Financieele Dagblad reported. Chief executive Ohad Maima said that more details about the IPO, including timing, will be released within four to six weeks.
Sources told the paper Kingfish is hoping to raise between €50m and €70m in new capital and that the price will value the company at around €200m.
Kingfish focuses on farming Dutch yellowtail – a mackerel-like fish – in large tanks on land in Zeeland, and in Maine in the US, producing 460 tonnes last year.
The company has opted for a Norwegian IPO because a large number of fish farming companies are already listed in Oslo.
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