Australian yellowtail kingfish producer Clean Seas Seafood said Tuesday it would raise up to NOK 165 million ($19.8 million/€16.5 million) in its planned listing on the Oslo Euronext Growth market, and will bring on Norwegian seafood conglomerate Hofseth as a minority investor.

Clean Seas CEO Rob Gratton said during a presentation to investors that NOK 100 million of that money will be used for growth initiatives, around NOK 40 million - NOK 60 million to pay off a convertible bond loan, and the remainder to invest in new freezing technology from Hofseth.