DUBLIN, March 2, 2016 /PRNewswire/ --
The global fish and seafood market is expected to grow at a CAGR of 4% during the 2016-2020 period, according to a report available from Research and Markets. The report notes an increasing demand for processed seafood from prominent vendors such as Marine Harvest SA, the world's largest salmon farmer. The Norwegian seafood company made headlines today thanks to a USD 510 million sale in company shares.
Geveran Trading Co. sold 37.8 million shares, or around 8.4%, of Marine Harvest in an accelerated book-building according to Morgan Stanley, who acted as bookrunner for the deal. Geveran retains 79.6 million shares, which equals roughly 17.7% of the company. Marine Harvest shares climbed last month to their highest prices since 2003, and closed up 1.1% at 126 kroner on Tuesday in Oslo.
The European fish and seafood market is forecast to grow at a CAGR of 2.93% by 2020, as stated in a recent report. Harvest Marine is noted as the chief participant in this market, so it comes as no surprise that the USD 510 million in company shares were quickly sold. Shareholders are hoping for the continued stable growth of this market.
The global aquaculture market is predicted to grow at a CAGR of 6.83% by 2019, as revealed in an industry report. The report states that aquaculture is one of the fastest growing food production sectors in the modern world. The forecast growth could be higher if the other reports are correct in their predictions, as a growing demand for seafood will require bigger fisheries utilizing sustainable practices.
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SOURCE Research and Markets