Norwegian salmon farmer SalMar is moving ahead with its planned private placement of subsidiary Icelandic Salmon -- formerly Arnarlax -- making clear its plans to raise approximately NOK 579 million ($63m) across two separate stock offerings on Oslo's Merkur Market, it announced.

Icelandic Salmon, which has already engaged DNB Markets as sole global coordinator and joint bookrunner, as well as Arctic Securities and Arion Banki to act as joint bookrunners, said it would effect a private placement of just over 5m shares [...]