Australian yellowtail kingfish farmer Clean Seas Seafood has been granted a trading halt on the Australian and Oslo Stock Exchanges.

The company asked for trading of its shares to be put on hold from the commencement of trading Wednesday in connection with a proposed non-underwritten placement by the company.

The halt is expected to last until it makes an announcement concerning the placement before shares begin to trade on Friday morning.

Clean Seas was hit hard by the pandemic, with its key markets in the foodservice sector, but has shown strong signs of recovery over the last year, despite challenging market conditions.