Atlantic Sapphire stock market value goes up in smoke

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A €100m lost in half an hour.

The stock price of Atlantic Sapphire crashed on Thursday morning. After the fire at the company’s pilot plant in Hvide Sande in Denmark, the share price has fallen by 23 per cent.

The latest trading price, NOK 36, is the lowest that has been registered since the company was listed on the stock exchange in 2018.

The cause of the fire is not yet known.

No injuries were reported in connection with the fire. Atlantic Sapphire expects the material damage to be extensive. The fish in the tanks inside the facility are expected to be lost.

Atlantic Sapphire Denmark. Photo: Aslak Berge

The production facility in Hvide Sande, where the company has farmed salmon for more than a decade, is insured for US$33 million.

At 05:41, the police wrote on Twitter that the fire is under control, but the extinguishing work could last all day.