LONDON – Stolt-Nielsen Limited (Oslo Børs: SNI) today announced that it is evaluating an initial public offering (the “IPO”) of its land-based fish farming business (“Stolt Sea Farm”). Stolt Sea Farm has engaged ABG Sundal Collier ASA and Pareto Securities AS as financial advisers to explore a potential listing in Oslo during 2021, subject to prevailing equity capital markets conditions.
Stolt Sea Farm is a specialist land-based aquaculture business sustainably producing turbot and sole at 14 different locations in Spain, Portugal, France, Iceland and Norway. The turbot and sole is sold under the brands of Prodemar™, King Sole™ and King Turbot™. Annual production capacity currently stands at 5,700 tonnes of turbot and 1,570 tonnes of sole with 100% of the juvenile supply provided by its own high-performing broodstock, and as such Stolt Sea Farm holds a leading position in the production of these species. Stolt Sea Farm has a long track record of strong performance with more than a decade of positive operational EBIT in turbot. In 2019, Stolt Sea Farm sold 8.3 million kilograms of turbot, generating 89% of Stolt Sea Farm’s revenues and achieved operational EBIT/Kg (WFE) for turbot of EUR 1.7.
The aquaculture industry is consistently growing due to the decreasing availability of wild catch and growing consumer demand for healthy protein, and turbot and sole are widely regarded as high-quality species. Stolt Sea Farm has over 30 years’ experience in the development and operations of sustainable, environmentally friendly land-based aquaculture. In January 2021, Stolt Sea Farm completed the first production cycle of its state-of-the art recirculation (“RAS”) module in Spain, with all biological indicators exceeding project estimates. Stolt Sea Farm is now well positioned to leverage its proven technological advantage and significantly grow its position in both turbot and sole with plans to grow production capacity (combined turbot and sole) to 9,600 tonnes by 2025 and 23,300 tonnes by 2035.
Stolt-Nielsen Limited intends to remain a majority shareholder in Stolt Sea Farm following the IPO as Stolt Sea Farm continues to develop its position within land-based aquaculture and roll-out its proven RAS and flow-through technology.
The company will provide further updates as appropriate.
Antarctic marine reserves await russian scientists Russia Fed.
The Ministry of Natural Resources sent the government a plan for the implementation of the Strategy for the Development of Russia's Activities in Antarctica. Expeditionary studies of marine biological...
Nicaragua aims to exceed export goals with the fishing sector Nicaragua
The president of the Nicaraguan Institute of Fisheries and Aquaculture (Inpesca) Edward Jackson, presented the possibility of contributing 300 million dollars to the Nicaraguan economy in 2021 for exp...
Still no evidence of COVID-19 transmission from food, FDA says United States
The following is an excerpt from an article published by Live Science:
There is "no credible evidence" that SARS-CoV-2, the virus that causes COVID-19, is transmitted through contaminated f...
Print
