The Kingfish Company has officially been listed on the Oslo Stock Exchange’s Merkur Market, and is trading under the symbol KING-ME.
The Kats, the Netherlands-based company has plans to become the largest producer of farm-raised yellowtail kingfish in both the European Union and the United States, and has announced its intention to build a recirculating aquaculture system farm in Jonesport, Maine, U.S.A., in addition to expanding its existing facility in the Netherlands.
In October 2020, it announced its intention to aim for an initial public offering on the Merkur Market, the public capital market designed for small- and medium-sized companies, which is affiliated with the Oslo Børs, and which will be renamed Euronext Growth by the end of November. The listing follows a private placement of EUR 50 million (USD 42 million) that concluded 11 November, which included follow-on investments from Creadev and Rabo Corporate Investments, which had already invested in earlier fundraising rounds.
“We have been impressed by the achievements of the company over the past 12 months, and we are glad to reinforce our support in the mission of The Kingfish Company: to leverage on the recirculating aquaculture technology to bring high quality and environmentally friendly seafood to high demand markets,” Creadev Investment Associate Alexandre van der Wees said.
The company has also received “strong support from leading Norwegian investors,” it said in a press release.
“We are excited to turn the page from a start-up to a scale-up and pursue the implementation of our global expansion strategy following the listing at the Oslo Merkur Market,” The Kingfish Company Founder and CEO Ohad Maiman said.
In preparation to its listing, The Kingfish Company added Helge Moen, the former managing director of Kverva, the investment arm of SalMar Founder Gustav Witzoe and his family, to its supervisory board. The board also consists of van der Wees; Jeroen Scheelbeek, a senior financial advisor with Bauhinia Independent Financial Advisory; Kingfish Co. Non-Executive Director Martin Jansen; and Kingfish Co. Co-Founder and Chairman Hans den Bieman.
“The extensive experience and expertise of our board members is an important asset for the growth of the company, and will continue to support The Kingfish Company’s management as it delivers excellence in operations and executes our future expansion plans,” den Bieman said.