ABGSC acted as joint global coordinator and joint bookrunner in the NOK 390 million private placement in Ice Fish Farm AS

Ice Fish Farm AS (”Ice Fish Farm” or the “Company”) announced on Wednesday 27 May the successful completion of a private placement of NOK 390 million. The private placement consisted of a primary issue of NOK 301.5 million and a sale of existing shares from current minority shareholders of around NOK 89 million. The private placement was conducted at a fixed price of NOK 33.50 per share, corresponding to an equity value of Ice Fish Farm of NOK around 1.5 billion on a pre-money basis.
The Private Placement attracted very strong interest from Norwegian and international high quality institutional investors and was multiple times oversubscribed. In addition to a pre-commitment from the majority shareholder Midt-Norsk Havbruk AS (a leading Norwegian salmon farmer) of up to NOK 70 million, DNB Asset Management and Swedbank Robur Fonder acted as cornerstone investors with NOK 80 million and NOK 40 million allocations, respectively. The communicated transaction size was covered one hour after the formal launch, and on the basis of a very strong investor demand the Company chose to close the bookbuilding period one day earlier than originally planned.
In connection with the private placement, the Company has initiated a process to list its shares on Merkur Market. The first day of trading in the shares on Merkur Market will be on or about 8 June 2020 under the ticker IFISH-ME.