Icelandic salmon enters Nasdaq First North Growth Market, a game-changer in aquaculture

Since September 29th, the trading of Icelandic Salmon shares has commenced on the Nasdaq First North Growth Market of Iceland. This marks a milestone for the company, which belongs to the Consumer Staples sector, and according to Nasdaq, it would be the twentieth company admitted to trading on Nordic markets in 2023.

"We are proud to be listed on the Nasdaq First North Growth Market of Iceland," stated Bjørn Hembre, CEO of Icelandic Salmon AS. "Arnarlax's operations are well-known to Icelanders, who are also known for their love of seafood products and the importance of sustainable fishing practices. This listing is a significant milestone in our roadmap for further growth, and we are grateful for the interest we have received from Icelandic investors. Therefore, it is a great pleasure for us to welcome the company to Icelandic shareholders, large and small. We look forward to working with them in the future." Undoubtedly a milestone that adds to the history of Icelandic Salmon AS, the parent company of the Icelandic salmon farming company Arnarlax.

Opportunities achieved thanks to hard work

Arnarlax is the largest aquaculture company by production in Iceland. Specifically, this company operates eight aquaculture sites in three fjords in the southern part of Westfjords under the Arnarlax brand, which has been based in Bíldudalur since its founding in 2010.

Since its inception, Arnarlax has been at the forefront of aquaculture in Iceland. This company fully integrates its own smolt stations, marine farms, harvesting plants, and sales department. It places sustainability as the guiding principle for all its operations and holds a listing on the Euronext Growth market in Norway.

Nasdaq also had some welcoming words for the company. "We warmly welcome Icelandic salmon to the Nasdaq First North Growth Market," said Magnus Hardarson, President of Nasdaq Iceland. [This allows to] expand its reach and offers investors new opportunities to invest in a rapidly growing industry. The listing will increase visibility and knowledge of the aquaculture industry in Iceland, and we look forward to supporting them in the future."

About Arnarlax

Arnarlax, situated in Bíldudalur within Iceland's Westfjords region, strategically located its harvesting plant near fjord-based sea farms. Additionally, the company maintains a sales office in Reykjavik. Arnarlax's firm dedication to sustainability drives collaboration with local stakeholders and regulatory bodies to enhance operations and reduce environmental impact. Arnarlax pioneers Icelandic aquaculture, using innovative methods, such as lumpfish, to combat lice and collaborating with government to protect seabed. This commitment to sustainability and responsible aquaculture practices sets Arnarlax apart in Iceland's aquaculture landscape.

About Nasdaq

Nasdaq is a global electronic marketplace for buying and selling securities, primarily stocks. It's one of the world's largest and most well-known stock exchanges. Nasdaq stands for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 as the world's first electronic stock market and is headquartered in New York City, USA.

Nasdaq First North Growth Market is a market of Nasdaq that provides a platform for smaller and growing companies. This helps them to access capital markets and raise funds by issuing shares or other financial instruments. With it, the companies that are not yet ready or do not meet the stringent listing requirements of the main Nasdaq stock exchange or other major stock exchanges can start.