A $1 billion (€885 million) proposed land-based salmon farming project in the United States is launching a private placement to raise funds during the second half of this year, a precursor to an eventual initial public offering (IPO) on the Oslo Stock Exchange's Merkur Market in the first half of 2021.

AquaCon, spearheaded by a team of Norwegian aquaculture executives, is planning a massive operation for the Eastern Shore of the US state of Maryland, near one of the most densely populated regions in the country.