Land-based salmon farmer Atlantic Sapphire has raised around NOK 26.3 million (€2.2 million/$2.4 million) in a subsequent share offering.

The figure represents just 18 percent of the NOK 140 million (€11.8 million/$12.7 million) worth of shares the group had put up for sale at a price of NOK 1.40 (€0.11/$0.13) per share.

The company raised NOK 702 million (€59.2 million/$63.6 million) in an initial share offering in September and announced a subsequent offering at the same time.

The underperformance of the its latest fund raising effort could reflect growing concern among investors regarding the company's performance.