The Måsøval family has incurred paper losses of around NOK 2 billion (€180 million) on its investment in Icelandic seafood company Kaldvik, following a sharp decline in the company’s share price.
The position has been built up over recent years through the family’s investment vehicle Heimstø, as part of a broader push into the Icelandic seafood sector.
Kaldvik operates across harvesting, processing and export of seafood from the North Atlantic, and has been positioned as a strategic play on value-added seafood production.
The reported losses are unrealised and reflect a revaluation of the holding rather than a sale of shares.
The investment comes against a backdrop of increased cross-border activity among Nordic seafood companies, with Iceland seen as an attractive but volatile market given currency exposure, biological risk and smaller market liquidity.
The scale of the paper loss highlights the risks associated with concentrated equity positions in listed seafood companies, particularly in periods of market volatility.
The figures were first reported by Finansavisen.
