Land-based producer raises $23.4 million in private placement

Editorial Staff

The books for this placement closed just before midnight on Thursday.

Norwegian land-based farmer Gigante Salmon has successfully raised NOK 250 million ($23.4 million) through a private placement, issuing 34.6 million shares at NOK 6.50 per share. This figure exceeds the company’s initial target of NOK 170-200 million.

Gigante Salmon’s largest shareholder, Gigante Havbruk AS, has pre-subscribed for NOK 130 million. Other investors who have pre-subscribed include Kulta Invest (NOK 15 million), Yannick  (NOK 10 million), Jan Heggelund (NOK 10 million), and Ristora AS (NOK 5 million).

The company plans to use the net proceeds to finance its investment and working capital needs for the construction and operation of a land-based farming facility at Lille Indre Rosøya in Nordland. Additional funds will be allocated for general corporate purposes.

In addition, Gigante Salmon intends to conduct a repair issue of up to 4.6 million new shares.


Related Articles