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Arntzen de Besche congratulates Frøy ASA on its IPO at Oslo Stock Exchange

Arntzen de Besche has assisted FRØY ASA in connection with its initial public offering and listing on the Oslo Stock Exchange. The company recently completed a public offering valuing the Company at approximately NOK 5.2 billion and is expected to commence trading on the Oslo Stock Exchange (OSEBX) as of 29 March 2021, with the ticker “FROY”.

FRØY ASA is a provider of key services to the aquaculture industry with more than 20 years of experience. The company has more than 670 employees in 13 locations in Norway. The company provides installation and maintenance of salmon farming sites, biological treatments, transport of live fish and a number of other regular services in a fish farmer's daily operations. The company currently has a fleet of 14 well boats, 62 service boats and four transport ships. In addition, the company has an expansive newbuilding program consisting of five well boats and eight service boats with planned delivery over the next two years.

FRØY is the result of a merger between Frøygruppen and NTS's aquaservice companies Norsk Fisketransport and NTS Shipping, as well as NTS Management. Until now, the company has been wholly owned by NTS ASA. NTS has a long-term ownership perspective and has ambitions to support FRØY in the foreseeable future as majority owner.

More information is available in the press release from Frøy (available in Norwegian).

The core team from Arntzen de Besche that has assisted Frøy in the IPO has consisted of Marianne Lind Sahl, Jon Martin Atkinson, Henrik Braavold Johansen and Lisa Marie Førland Holmen.

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