Måsøval AS was among the most actively traded stocks on the Oslo Børs on Tuesday, with 10.64 million shares changing hands for a total value of NOK 374.4 million (€33.70 million).
The share price rose 0.3% to NOK 30.70 (€2.76) at close, giving the company a market capitalisation of approximately NOK 3.76 billion (€338.40 million).
Market activity suggests that Odin Forvaltning has exited its position in the company, according to market sources cited by Finansavisen, although no formal disclosure had been made at the time of writing. Odin Norge previously held 10.63 million shares, making it one of the largest shareholders.
The identity of buyers has not been confirmed. Analysts have previously pointed to potential interest from Kverva, the investment vehicle of the Witzøe family and a major shareholder in SalMar ASA, as well as Mowi ASA.
Recent trading follows increased activity in the shareholder base. Investment firm Kontrari sold 2.14 million shares last week, which were acquired by SB1 Markets Market Making. J.P. Morgan has also increased its holding in recent weeks and is now among the largest shareholders.
The heightened turnover comes after Heimstø AS, which controls the majority of the company, announced on 26 March that it is conducting a strategic review of its ownership. The move has been interpreted by analysts as a potential sale process.
Since the announcement, Måsøval’s market value has increased from around NOK 2.8 billion (€252.00 million) to NOK 3.76 billion (€338.40 million). Heimstø, which holds close to 70% of the shares, has seen the value of its stake rise to approximately NOK 2.6 billion (€234.00 million).
DNB Carnegie has been engaged to advise Heimstø on the process.