Share price surges as Norwegian billionaire increases stake in family-owned salmon producer

by
Matthew Wilcox

Transaction was executed at a price of NOK 25.75 per share.

Frøy Kapital the investment vehicle of Norwegian tycoon Helge Gaso, the former owner of salmon farmer NTS, and founder of wellboat and aquaculture services company Froy, has acquired 4,761,904 shares in family-owned salmon producer Måsøval.

The transaction, executed at a price of NOK 25.75 per share, represents a total investment of NOK 123.4 million ($11.7 million). This acquisition boosts the combined holdings of Frøy Kapital and its parent company, Gåsø Næringsutvikling, to 6,117,036 shares in Måsøval. This accumulates to 4.99 percent of Måsøval’s total outstanding shares, placing them among the top shareholders of the company.

Following the acquisition, Måsøval’s stock experienced a surge in the market, with its share price escalating to NOK 30.5, marking a 18% increase on the purchase price.

Prior to this acquisition, the top shareholders of Måsøval included Måsøval Eiendom, holding 73% of the shares, Verdipapirfond Odin Norge with 10%, and Vartdal Invest with 4.7%, among others.

Family-owned group Masoval, formerly Masoval Fiskeoppdrett, first began farming nearly 50 years ago, and remains family owned and is headed up by Chairman Lars Masoval, the son of founder Karsten Masoval.

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