Dutch land-based aquaculture firm The Kingfish Company has completed a private placement of more than 24 million new shares in the company, as it looks to raise approximately NOK 203.7 million (€19.5 million/$18.7 million).

Together with a proposed fully underwritten subsequent offering €15.3 million ($14.7 million), the company plans to raise approximately NOK 362.5 million (€34.7 million/$33.3 million), which it will use to fund its Phase 2 expansion in the Netherlands, where it has recently faced ‘significant’ additional costs and delays.