Nordic Halibut plans $20 million private placement to fund growth plans

Norwegian halibut farmer Nordic Halibut is planning a private placement of new shares to raise between NOK 125 million (€12.6 million/$14.6 million) and NOK 170 million (€17.2 million/$19.9 million) to fully fund its growth plan.

The net proceeds from the placement will be used towards investing in a fourth sea site, the land-based facility in Tingvoll, value-added processing (VAP) capacity, maintenance capital expenditures (CapEx) and for general corporate purposes, said the company in a stock exchange announcement on Nov. 8.