New Zealand King Salmon Investments (NZK) has been given approval to farm the first open ocean finfish site in New Zealand.

NZ King Salmon says open ocean farming makes logical sense for both the environment and for the species in the long term.

It also says open ocean is part of the company?s long-term strategy, but the current focus is on its inshore farming production.

NZ King Salmon?s share price closed up 17% today.