Gigante Salmon operators at the Lille Indre Rosøy facility, Rødøy, Northern Norway.
Photo: Gigante Salmon.
Norwegian land-based aquaculture company Gigante Salmon has opened the subscription period for a new share offering aimed at raising up to NOK 40 million, as the firm also reports operational progress in its latest annual results.
The Bodø-based company, which is still constructing its flow-through aquaculture facility in Rodøy, said the offering covers up to 5,333,333 new shares priced at NOK 7.50 each. The subscription period began on 6 March and will run until 18 March 2026.
This latest round of fundraising follows a much larger fundraise via a private placement completed in February, which enabled Gigante Salmon to raise NOK 360 million. The company said the money will support working capital needs and the completion of its land-based farming facility.
DNB Carnegie, Pareto Securities and SB1 Markets are acting as joint global coordinators and bookrunners for the offering.
The financing announcement comes shortly after the publication of Gigante Salmon’s 2025 annual report, which the company said marked its transition “from developer to fish farmer”.
During the year, the company brought two production units - Pools A and B - into operation, while a third unit, Pool C, is expected to be ready in spring 2026. In Pool A, 2.4 million smolt were stocked during the third and fourth quarters.
Gigante Salmon also reported the successful completion of the first commercial harvest from its “Autumn 2024” generation of fish. The remaining harvests from this generation are scheduled for the first and second quarters of 2026, the company said.
Production is set to continue ramping up later this year, with the company planning to stock an additional 3.3 million smolt in the second half of 2026, as it aims to achieve full production capacity of 16,000 tonnes by 2028.
