Stolt
Sea Farm
– which produces turbot and sole at 14 different locations in Spain,
Portugal, France, Iceland and Norway – has engaged ABG Sundal Collier and
Pareto Securities as financial advisers to explore a potential listing in Oslo
during 2021, subject to prevailing equity capital markets conditions.

The company has over 30 years’ experience in land-based aquaculture and its annual
production capacity currently stands at 5,700 tonnes of turbot and 1,570 tonnes
of sole, with 100 percent of the juvenile supply provided by its own
high-performing broodstock.. In January 2021, the company 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,” the company said in a press release.

Stolt
Sea Farm’s turbot and sole are sold under the brands of Prodemar, King Sole and
King Turbot and the company has recorded over a decade of positive operational EBIT in
turbot. In 2019, Stolt Sea Farm sold 8.3 million kilograms of turbot,
generating 89 percent of Stolt Sea Farm’s revenues and achieved operational
EBIT/kg (WFE) for turbot of €1.7.

Parent
company, Stolt-Nielsen Limited, intends to remain a majority shareholder following the IPO.

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