Norway’s Aker BioMarine plans to raise 2.15 billion Norwegian crowns ($225 million) in a private share sale valuing it at 8 billion crowns, followed by a listing of the company’s stock, its owners Aker ASA and Aker Capital said on Friday.
Aker BioMarine harvests off Antarctica small ocean crustaceans known as krill, rich in omega-3 fatty acids, and eaten by whales, fish, seals, and penguins, and turns it into food supplements and animal feed.
Arctic Securities AS, DNB Markets, and Skandinaviska Enskilda Banken (SEB) were appointed joint bookmakers for the planned transaction and the following listing of shares on Oslo’s Merkur Market trading platform.
Oslo-listed Aker is controlled by Norwegian billionaire investor Kjell Inge Roekke, who started out in the fisheries industry before branching out to oil, real estate and other businesses.
“I have been curious about krill’s nutritious and valuable ingredients since I started fishing in the early 1980s,” Roekke said in a statement.
In the first quarter of 2020, Aker BioMarine reported $71 million in revenue and $10.4 million in earnings before interest, tax, depreciation, and amortization (EBITDA).
($1 = 9.5213 Norwegian crowns)
(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)