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    Home > Food News > Food Articles > The majority shareholder sells shares of Russian salmon farming companies

    The majority shareholder sells shares of Russian salmon farming companies

    • Last Update: 2023-02-01
    • Source: Internet
    • Author: User
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    Inarctica, Russia's largest salmon farming company, reported that majority shareholder Maxim Vorobyov transferred 23 percent of the company's stake to management, which is now less than 24 percent
    .
    The exact amount of the transaction was not disclosed
    .
     
    Since the beginning of 2022, Vorobyov has ceased to hold the management position
    of Inarctica.
    Inarctica is listed on the Moscow Stock Exchange and changed its name from Russian Aquaculture to Inarctica in August 2022, but the ticker symbol remains AQUA
    .
     
    Vorobyov was a former co-founder of the Russian Fishing Corporation (RFC), and in 2018 Vorobyov sold an equity stake
    in RFC to Russian billionaire Gleb Frank.
    After the 2022 war in Ukraine, Gleb Frank was sanctioned by the United States and Canada, so he transferred his equity in RFC to the company's management
    .
     
    Inarctica has 35 Atlantic salmon and rainbow trout breeding sites in Russia, with a total production of about 32,500 tons (live fish equivalent) in 2021, an increase of 78% compared to 2020, and annual revenue of 15.
    9 billion rubles ($213 million).

     
    In 2022, many Western countries will no longer do business with Inarctica due to the war in Ukraine, but the company said it will continue to consolidate its product brand and strengthen marketing communication
    with consumers and the overall business model chain.
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