BioMar is set to debut on the Copenhagen stock exchange at a valuation of DKK 11.5–12.4 billion (€1.50–1.61 billion), after parent company Schouw & Co. set an IPO price range of DKK 100–108 (€13.00–14.04) per share, according to Bloomberg News.
The offering could raise up to DKK 2.72 billion (€353.6 million), with most of the proceeds going to Schouw. The flotation would mark Copenhagen’s largest IPO since 2018.
ATP, Danske Bank Asset Management, DNB Asset Management, Nykredit Asset Management and Tind Asset Management have jointly committed to purchasing around half of the shares on offer. Morgan Stanley and DNB Carnegie are acting as bookrunners.
The subscription period opens Wednesday, with trading expected to begin on May 28.
BioMar reported 2025 revenue of approximately DKK 16.5 billion (€2.15 billion), while EBIT exceeded DKK 1.1 billion (€143 million). The company said revenue has grown at a compound annual rate of 10% since 2005.
For 2026, BioMar has guided for revenue of DKK 16–17 billion (€2.08–2.21 billion) and EBIT of DKK 1.1–1.2 billion (€143–156 million).
In the first quarter of 2026, BioMar sold 315,000 tonnes of feed, a record for a first quarter, supported by strong demand in Ecuador’s shrimp sector and Australia’s salmon industry. Biological challenges reduced volumes in Scotland and Norway.
Q1 revenue reached DKK 3.2 billion (€416 million), while EBIT totalled DKK 110 million (€14.3 million), compared with DKK 3.4 billion (€442 million) and DKK 117 million (€15.2 million) respectively in Q1 2025.
The IPO will give BioMar direct access to capital markets and place greater public scrutiny on its financial performance, marking a significant change for one of the aquafeed industry’s largest global suppliers.