ABG Sundal Collier acted as sole bookrunner in the NOK 170m private placement in Norcod AS

Norcod AS (“Norcod” or “the Company”) announced on Thursday 29 February 2024 the successful completion of a private placement of NOK 170m. The private placement consisted of 14.2 million Offer shares at a subscription price of NOK 12 per share. The company first announced an intention to do a private placement of NOK 100–150m at NOK 12 per share one week prior to launch. With demand exceeding the maximum level, the transaction was upsized at launch and concluded at NOK 170m. Approximately 30% of the gross proceeds will come from High Liner Foods (“HLF”), a leading North-American value-added frozen seafood company. The strategic partnership forged with HLF is an important milestone in bolstering Norcod’s presence in the North-American market.
The net proceeds from the private placement will be used to fund the Company’s working capital and for general corporate purposes.