Norwegian oil, shipping and seafood magnate Kjell Inge Rokke launched another fisheries group onto the Oslo Stock Exchange Monday.
Krill harvesting and processing group Aker Biomarine, owned by Norwegian magnate Kjell Inge Rokke, began trading on the Oslo Stock Exchange's Merkur Market, a follow up to a NOK 2.15 billion (€196 million/$225 million) share issue aimed at fueling the company's ambitions to grow in both the consumer and animal feed markets.
"We have reached necessary scale to start to be profitable as a company," Johansen said. "It's the right time to go to the market and release all the value of the company that's there."
Listing is not new for Aker Biomarine. The company first went public on the Oslo Stock Exchange in 2007, in a blockbuster IPO that attracted a range of eager investors, including John Fredriksen, Mowi's largest shareholder and one of Norway's wealthiest individuals.
Though Aker's investors understood that the group would need time before turning a profit, losses piled up over the years, and several major investors stepped out.