Russia's largest salmon producer sinking funds into new farms, hatcheries

Russian Aquaculture, the country's largest salmon and trout producer, will use funds from an upcoming secondary public offering (SPO) on ​​the stock exchange in summer or fall to build new farms and hatchery facilities.

The decision was made this week at a meeting of the board of directors, Russian Aquaculture CEO Ilya Sosnov told IntraFish.

The firm expects to raise up to $50 million (€47.6 million) in the SPO, which will be invested into further development.

Russian Aquaculture is planning to acquire new fish farming sites, construct new farms in the Barents Sea and expand its hatchery facilities, Sosnov said.

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