There’s been talk of Lumene possibly going public for over 10 years, and it’s always been “a few years away from being realistic” 
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Another share issue later.
“The company announces that it plans to arrange a directed share issue of approximately EUR 4.0 million at most, after the Listing and by the end of the current year 2021.”
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I saw a news story about that yesterday, and it didn’t convince me at all. I’ll skip it, but I wanted to put it on people’s radar 
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Fifax says it’s in a ramp-up phase, and that’s what it looks like in terms of numbers, meaning heavy investments
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One would have to sell quite a few fish to cover those losses eventually… 
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Fifax as an Investment Target
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I wonder if the intention is to expand into cod farming? Hopefully not right after the listing, at least 
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It’s a long road when rainbow trout are traded at x.xx% margins, and this applies to current outdoor facilities.
There are seasonal variations in wild fish, as well as in farmed rainbow trout and Norwegian salmon. In pond/cage facilities, the amount of fish processed can be regulated according to the season. However, these recirculating aquaculture systems (RAS) are based on a stable biomass, meaning the mass remains constant. If fish grow by, for example, 100g per week, and there are 100,000 fish swimming, it means that 10,000 kg of fish must be processed every week, regardless of market conditions. Fifax is planned to be a facility of just over 3 million kg, which means about 60,000 kg of processed fish per week.
Edit link to Yle’s article
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I haven’t read more closely about Fifax’s business model or logic, but this company is not unique in the industry:
Atlantic Sapphire, listed on the Norwegian stock exchange in May 2020, also builds fish farms that can be located 100% on dry land.
The company listed at a price of 115 NOK/share. Currently, the price is hovering around 37 kroner…
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Even in February, it was 150. I guess the stock price has been scared by this upcoming competitor…?
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Land-based facilities would probably need help from legislators, meaning that traditional and in many ways problematic open-sea salmon farming production should be more strictly regulated.
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Here’s Yahoo Finance Atlantic Sapphire ASA (ASA.OL). Where did you get that May 2020 listing time? It’s not that important, but is there some kind of pre-listing or other practice used in Norway?
I strongly disagree with this. Currently, the requirements in Finland are extremely strict.
In Finland, one offshore facility is in its first year of testing, one has been producing for a few years, and a third permit holder is not yet producing offshore.
We will not be competing with Norwegian facilities, nor can we compare them. There, too, a lot of effort is constantly being put into reducing environmental impacts.
Where do you still see room for tightening?
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Myllyn Paras (no. 23) has been acquired by Lantmännen and is no longer on the list of potential IPOs.
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And from your list, Bioretec has already reported results.
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Probably Sievi’s holdings will not be listed either, if the merger with Boreo goes through.
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New SPAC:
Lifeline SPAC I Oy Plans Initial Public Offering and Listing on Nasdaq Helsinki’s Regulated Market SPAC Segment
In the planned IPO, the Company aims to raise approximately 100 million euros in gross proceeds. The Company intends to merge with an unlisted Nordic company within 24–36 months of the IPO and use the IPO proceeds to develop the target company. The target company for the envisioned merger is a technology-focused company seeking strong growth. The Company’s sponsors are partners of the private equity firm Lifeline Ventures, who have many years of experience in financing and developing growth companies in the technology sector and in successful value creation. In addition, the Company’s Board of Directors and management team members have extensive international experience in technology companies, growth equity investing and financing, and mergers and acquisitions.
Ahlström Invest B.V., G.W. Sohlberg Ab, Mutual Employment Pension Insurance Company Varma, Mandatum Asset Management Oy, certain funds managed by Sp-Rahastoyhtiö Oy, Rettig Group Oy Ab, Visio Varainhoito Oy, and certain assets managed by WIP Asset Management Oy (together, the “Anchor Investors”) have given subscription commitments in the IPO, pursuant to which they have undertaken, subject to certain conditions, to subscribe for offered shares totaling 68.9 million euros at the subscription price of the offered shares. The Anchor Investors’ subscription commitments correspond to 68.9 percent of the offered shares, assuming that the IPO is fully subscribed.
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Analyse2, which is exploring the possibility of listing on First North (First North Growth Market), wants to invest in international growth.
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I’ll post this here, even though it’s not directly coming to Helsinki. If someone feels it’s a terrible injustice, they can flag/move it to the “correct” place.
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Huotari and de la Torre both consider the company’s stock market listing possible in a few years.
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