Frøy listed on Oslo Børs

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Oslo, 29 March 2021 – The aqua service provider Frøy has today been listed on Oslo Børs (ticker code: FROY).

Frøy is a Norwegian provider of salmon farming services with an operational track-record of more than 20 years.

“Over the last 20 years Frøy has developed into a market leading aqua service provider to the Norwegian salmon farming industry. Going forward, we see several paths for continued growth for Frøy, and believe an IPO of Frøy is now a natural next step to enable the next phase of the company´s development,” says Helge Gåsø, Chief Executive Officer of Frøy.

Recently, the company raised NOK 1.36 billion through a private placement. The placement included NOK 1 billion in new shares and NOK 360 million in sales of existing shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 1.51 billion, announced the company.

“We see continued strong demand for servicing the aquaculture site infrastructure and biomass, and look forward to continuing our hard work to meet the needs of our customers,” continues Gåsø.

The shares in the new issue were sold at NOK 61.00 corresponding to a market capitalisation of NOK 5.27 billion.

About Frøy

Frøy is a leading integrated aqua service provider to the Norwegian salmon farming industry. With a team of more than 670 specialized aqua service professionals and more than 90 specialized vessels Frøy offer a wide range of infrastructure services to salmon farmers in Norway. The service offering includes transportation of fish, sorting, counting, cleaning of nets, treatment for diseases and sea lice, inspection, installation and maintenance of sites.

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