Singapore-based Barramundi Group has announced its intention to list on Euronext Growth Oslo, becoming the first tropical aquaculture player on the exchange.
The company, which farms barramundi, will launch an offering of shares in the group as part of the listing.
The offering will take the form of an equity private placement that is expected to be followed by an immediate listing on Euronext Growth Oslo.
According to the company, a number of prominent institutions and family offices in both the Nordics and Asia have already pre-committed themselves to participate in the transaction.
Barramundi Group operates an "end-to-end aquaculture model", with in-house capabilities ranging from vaccine development, product innovation and processing, to hatchery facilities.
The group also reaches across key markets including Singapore, Australia, China, Hong Kong, South Korea, and the United States.
Barramundi Group’s decision to pursue a public listing was driven by a growing global demand for barramundi and the overall consumer trend towards sustainable consumption, which is projected to increase exponentially over the next five years, it said.
The group has three ocean farm sites situated across Australasia -- in Australia, Singapore, and Brunei -- from which it plans to more than double its capacity over the next five years.
Barramundi Group said the listing will support its strategy and near-term growth plans, allowing it to further industrialize production across its three sites, expand its market share, pursue and strengthen new revenue streams, and build production partnerships to pave the way for significant scaling opportunities.
"This listing is a significant milestone for Barramundi Group as it marks the first step in our plan for transformational growth," said Andreas von Scholten, CEO of Barramundi Group.
"The organic developments we’ve been able to build through the engagement of global brand-name clients and intermediaries in the last few years demonstrate the large commercial potential that resides in barramundi as a premium white fish."
Barramundi Group is currently on a strong growth trajectory on the back of a long period of extensive investments in capital expenditures (CAPEX), developing high tech capabilities and growing biomass.
The production at Barramundi Group’s current farms is expected to increase significantly over the next few years, and at the same time the company is in the process of both exploring a significant expansion of the number of leases in Australia as well as potentially entering into new geographies through partnerships and joint ventures.
