Kjell Inge Rokke's krill harvesting and processing company Aker Biomarine listed on the Oslo Stock Exchange's main market on Wednesday, April 14, nearly 15 years after the group first went public on the exchange before lackluster financial performance forced it to de-list.
Aker Biomarine made the move to the mainboard after listing on the lower cap Euronext Growth Market (formerly the Merkur Market) last summer.
The company, majority held by Norwegian magnate Kjell Inge Rokke, began trading on the Euronext Growth Market after 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.
The company first went public on the Oslo Stock Exchange in 2007 in a blockbuster NOK 1.2 billion ($142 million/€ 119 million) 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 the group would need time before turning a profit, losses piled up over the years, and several major investors stepped out.
The company delisted from the Oslo Stock Exchange in 2013 as part of the restructuring of Rokke's Aker harvesting operations.
Arctic Securities, DNB Markets and SEB are acting as managers for the current listing.