Nordic Halibut, a firm backed by two of Norway's largest shipping magnates, is planning a NOK 270 million (€26.5 million/$31.5 million) private placement, ahead of plans to list on Oslo's Euronext Growth, the company announced Monday.

The capital will be used to fund the company's new land-based broodstock facility, to expand sea operations in Eide, Norway, and to establish value-added product capabilities.

The price per share has been set to NOK 22.50 (€2.21/$2.63), with three cornerstone investors already pre-committing to subscribe for a total of NOK 67 million (€6.5