Laxey facility in Vestmannaeyjar
Laxey facility in VestmannaeyjarLaxey

Icelandic salmon farmer Laxey raises €28m in latest share offering

Published on

Icelandic land-based salmon farming company Laxey has completed a share offering, raising a total of €63 million this year to finance the construction of the second section of its facility in Vestmannaeyjar. The company stated the offering was significantly expanded due to strong oversubscription.

The second part of the offering raised an additional €28 million. New shareholders joining the company include three of Iceland’s largest pension funds: LSR, LIVE, and Gildi Pension Fund. The capital increase will be used to finance a new large smolt facility and the construction of the company's "Section 2" grow-out station.

Laxey also provided an update on its first batch of fish, which arrived as eggs in November 2023. That group has now reached an average weight of two kilograms, and harvesting is planned for November 2025 at a target size of four to five kilograms. Construction of an on-site processing plant has also begun and is expected to be ready this autumn.

Lárus Ásgeirsson, Laxey’s Chairman of the Board, stated that the successful financing enables the company to accelerate its development.

logo
Baird Maritime / Work Boat World
www.bairdmaritime.com