Måsøval raised €40 million in share issue

Aslak Berge
The issue was made during the evening.

Just after the stock exchange closed on Wednesday afternoon, Norwegian salmon farmer Måsøval announced plans to raise up to NOK 400 million (€40 million) in a share issue.

It was done quickly.

Late Wednesday night, Måsøval confirmed that it had made a private placement of 9.828 million shares at a price of NOK 40.7 and thus brought in a gross proceeds of around NOK 400 million (€40 million).

The funds will be used to partially finance the acquisition of the Vartdal group, which was acquired for one and a half billion kroner last week.

Read also: Ottar Vartdal sells his life’s work to Måsøval for €150 million

The Måsøval share ended at a price of NOK 42 on Euronext Growth on Wednesday. This means that Måsøval contented itself with a discount of 3.1 per cent to set the private placement which was acquired for NOK 1.5 billion (€150 million) last week.

Prior to the issue, Måsøval had a market capitalisation of NOK 4.5 billion (€450 million).


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