The parent of land-based fish farmer Stolt Sea Farm is exploring a potential initial public offering (IPO) on Oslo's Stock Exchange during 2021, the company announced Tuesday.

The company, owned by publicly listed Norwegian shipping, tanker and container group Stolt-Nielsen, rolled out an ambitious production plan in the announcement of the potential IPO, saying it intends to grow combined output of turbot and sole to 9,600 metric tons by 2025 and 23,300 metric tons by 2035.

Stolt-Nielsen intends to remain a majority shareholder in Stolt Sea Farm following the listing.