Benchmark Holdings to delist following sale of Genetics arm to Novo Holdings
Benchmark Holdings announced plans on Friday to delist from both AIM in London and Euronext Growth in Oslo, citing low liquidity and the high cost of maintaining public listings relative to its remaining operations. The decision follows the recent £260 million sale of its aquaculture genetics division to Novo Holdings.
The company, which now focuses on Advanced Nutrition and Health, will convert to a private limited company, subject to shareholder approval at a general meeting scheduled for 18 June.
Benchmark intends to return the majority of the proceeds from the divestment to shareholders. This includes a planned special dividend and a tender offer of up to £56.7 million, priced at 25 pence per share—a 48% premium to the company’s ex-cash equity value. Shares rose 7.3% on Friday morning to 23.60 pence, giving Benchmark a market capitalisation of £175 million.
The £260 million sale to Novo Holdings, completed on 31 March 2025, involved £230 million paid upfront, with an additional £30 million contingent on future revenue milestones. As part of the deal, Benchmark Genetics became a privately held company, relocated its headquarters to Bergen, Norway, and appointed Geir Olav Melingen as CEO.
Novo Holdings, a Danish investment company owned by the Novo Nordisk Foundation, described the acquisition as part of its strategic focus on sustainable food production. The firm manages over €100 billion in assets and is expanding its portfolio in aquaculture, alternative proteins, and life sciences.