A leading Australian aquaculture company has taken the unusual step of asking to be listed on the Oslo Stock Market .

Clean Seas Seafood Limited, based in Spencer Gulf, Port Lincoln, South Australia and a producer of kingfish, mulloway and tuna, has made a formal application for a secondary listing on the Euronext Growth Exchange, trading home to many of Norway’s emerging fish farming businesses.

Clean Seas plans to launch a private offering of new shares to raise capital to more than treble current production of Kingfish to around 10,000 tonnes.

The company, which has engaged Sparebank 1 Markets and Bell Potter Securities as facilitators, yesterday requested a temporary trading halt to its ordinary shares quoted on the Australian Securities Exchange (ASX) pending the Oslo announcement. In 2005, Clean Seas became the first aquaculture business to be listed on the ASX.

Clean Seas Seafood, formerly known as Clean Sea Tuna Ltd, describes itself as a fully integrated Australian Aquaculture business and the global leader in full cycle breeding, farming, processing and marketing of its hiramasa or yellowtail kingfish.

The company said: “Clean Seas is recognised for innovation in its sustainable yellowtail kingfish farming and has become the largest producer of aquaculture yellowtail kingfish outside Japan.”

Clean Seas is also carrying out research and development work aimed at the future production of southern bluefin tuna.

The company’s other finfish sales include the whitefish known in Australia as mulloway, and wild-caught tuna. Its farming facilities are based at Spencer Gulf and the South Australia fishing town of Arno Bay.

 

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