ABGSC acted as joint global coordinator and bookrunner in the NOK 250m private placement in Norcod AS and as Merkur advisor in the subsequent listing on Merkur Market

On 5 October 2020, Norcod AS (“Norcod” or the “Company”) announced the successful placement of 5 million new shares in the Company at a price of NOK 50.00 per share, corresponding to a total transaction size of NOK 250 million. The corresponding equity valuation of the company was approximately NOK 602 million on a pre-money basis and NOK 852 million on a post-money basis.
The Private Placement attracted very strong interest from Norwegian and international investors, and was multiple times oversubscribed. The transaction was significantly anchored among existing shareholders in the Company who, together with selected new investors, pre-committed to apply for and be allocated a total amount of up to NOK 180 million in the Private Placement.
The Company intends to use the net proceeds from the Private Placement to support the Company’s expected significant production growth. This includes investments to secure fry access and capacity, biomass build-up, barges and other operational infrastructure, as well as general corporate purposes.
Norcod has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange, list the shares of the Company on Merkur Market. The first day of trading on Merkur Market is expected to be on or about 15 October 2020.