Land-based fish farms worth €2 billion on stock exchanges

Aslak Berge

Emergence of new salmon sector is beginning to become clear.

Atlantic Sapphire is still well ahead of its top competitors. With a market capitalisation of EUR 1.1 billion, the company accounts for more than half of the investors’ exposure in this sector.

So far, there are five listed land-based salmon farmers on the Oslo Stock Exchange. Besides the already mentioned Atlantic Sapphire, there is Andfjord Salmon, Salmon Evolution, Proximar Seafood and Nordic Aqua Partners.

Norwegian dominance
The four mentioned here are Norwegian companies, the former is Danish.

Andfjord Salmon and Salmon Evolution are in the process of building their fish farms in Norway. Proximar Seafood is building in Japan, Nordic Aqua Partners in China, and Atlantic Sapphire is already operational with two facilities in Denmark, and the US.

In addition to the five aforementioned land-based listed on Oslo Stock Exchange, US AquaBounty Technologies is also listed. The company, with a market capitalisation of USD 499 million, is traded on the Nasdaq Stock Exchange in New York.

Unlike the five listed in Oslo, all of which focus on the farming of ordinary Atlantic salmon, AquaBounty produces genetically-modified salmon that has significantly faster growth than regular farmed salmon.

Read more: Bankers took charge of AquaBounty’s share issue and made a $13 million profit

The equity market, which the stock exchange provides access to, is an attractive form of financing. And more salmon farmers are on their way.

Read more: This is the primary bottleneck for successful salmon farming on land

Viking Aqua (formerly known as Sande Aqua), Nordic Aquafarms, Whole Oceans, West Coast Salmon, Aquacon, Columbi Salmon, Baring and Pure Salmon, to name a small number, are all possible stock exchange candidates, according to an industry report written by iLaks and SalmonBusiness journalists.

The over 90-page industry report will present as many as 88 specific companies with advanced plans to roll out land-based salmon in the years to come. The industry report will be released on Monday 22nd March, but it can already be pre-ordered by contacting iLaks or SalmonBusiness.

Market leader Atlantic Sapphire is, by the way, the only one of the listed land-based salmon farmers that has risen in value so far in 2021.


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