ABGSC acted as Joint Global Coordinator and Bookrunner in the NOK 400m private placement in Proximar AS and subsequent listing on Euronext Growth

On 25 January 2021, Proximar AS (“Proximar” or the “Company”) announced the successful placement of 24,691,360 new shares in the Company at a price of NOK 16.20 per share, corresponding to a total transaction size of NOK 400 million. The equity valuation of the company was approximately NOK 245 million on a pre-money basis and approximately NOK 645 million on a post-money basis.
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and family offices and was more than 10 times oversubscribed excluding shares pre-allocated to Nutreco and cornerstone investors. The following six cornerstone investors subscribed for and were allocated shares for NOK 120 million (NOK 20 million each): DNB Asset Management, Fondsfinans Kapitalforvaltning, Klaveness Marine, Pactum, TD Veen and Tycoon Industrier. Furthermore, Nutreco subscribed for and was allocated shares for NOK 35 million. In addition, the following members of the board of directors of Proximar were allocated New Shares for NOK 43.1 million: (i) Grieg family and associated parties: NOK 22.9 million / 1.4 million New Shares; (ii) Espen Aubert (through Daimyo AS: NOK 18.4 million / 1.1 million New Shares; and (iii) Helge Nielsen (through Helida AS, a company controlled by Mr. Nielsen): NOK 1.8 million / 0.1 million New Shares.
The net proceeds from the Private Placement will be used to initiate construction of a land-based salmon farming facility in Japan and for general corporate purposes.
Proximar has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange and EGM approval of the transaction, list the shares of the Company on Euronext Growth on or about 3 January 2020.