Aquaculture service company Froy Group on Thursday began building a NOK 1 billion (€99 million/$118 million) book with the aim of launching on the Oslo Stock Exchange at the end of this month.
Book building is used in stock markets to determine an IPO price based on investor interest. The book-building period runs through March 25.
Froy, which installs and maintains salmon farming sites and provides biological treatments and transportation of live fish, was formed as a result of the merger between Froy Gruppen (and subsidiaries) and one of integrated aquaculture group NTS's subsidiaries in April last year.
