King Salmon’s future hangs on a Blue Endeavour

Warming waters are killing salmon at alarming rates. (Image: Getty)

Thu, 14 Apr 2022

New Zealand King Salmon expects to be losing money for the next two years as climate change wreaks havoc on its business model and forces it to relocate some farms.The salmon farming company is raising $60 million in an underwritten renounceable rights offer to pay off $44m of debt and provide $13.2m operating cash for the next two years.During this time, it will shut down two farms in the Pelorus Sound where its fish are dying at troubling rates due to the warming seawater.NZ King Salmon reported a net loss of $55.7m in the 2022 financial year...

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