Grieg-backed Japanese land-based salmon farm Proximar Seafood now on the Stock Exchange

Aslak Berge

First trading day for company which is behind facility which will be located at the foot of the iconic Mount Fuji.

On the 25th of January, Proximar confirmed to have raised EUR 40 million in a private placement that, according to the facilitators, was oversubscribed ten times. Wednesday the 3rd of February is the start-up company’s first trading day on the Euronext Growth index on the Olso Stock Exchange.

Among those who signed up is the Dutch food giant Nutreco. Nutreco, which owns the salmon feed company Skretting, with pre-allocated shares worth EUR 3.5 million.

The money will be used to build a land-based salmon farming facility at the foot of the iconic Mount Fuji, 70 miles west of the capital Tokyo. The facility will produce 5,300 tonnes of salmon in the first phase. From 2024, the plan is to expand by another 21,000 tonnes.

Proximar was valued at EUR 62 million before listing and will be traded under the ticker “PROXI”.