Norwegian land-based salmon farmer Salmon Evolution has raised more capital in a private placement to back expansion plans and to fund the second phase of its Indre Haroy facility.

The company allocated 33,333,333 shares at a subscription price of NOK 9.00 (€0.94/$1) per share, raising gross proceeds of approximately NOK 300 million (€31.4 million/$34.2 million), according to a stock exchange announcement.

ABG Sundal Collier, DNB Markets, Nordea Bank and Pareto Securities were joint bookrunners in the deal.

The proceeds from the placement will partly fund the second phase of the salmon farming facility at Indre Haroy, help to expand capacity at the smolt facility Kraft Laks, and for general
corporate purposes.