Mogster family increases fortune by €100 million – in just one day

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What a day indeed for the Møgster family at Austevoll.

After the collapse of supply shipping company DOF, the fishery conglomerate Austevoll Seafood now represents the majority of the value in Laco. The holding company, controlled by founder Helge Møgster and his family, owns a 55.55 per cent stake in the Austevoll Seafood Group.

Highly priced
This share block is becoming increasingly more valuable.

Austevoll Seafood shares rose by 7.3 per cent on the Oslo stock exchange today.

There have not been company-specific news from Austvoll Seafood – neither today nor the last week.

Several brokerages have, however, revised their price targets in the seafood sector in recent days. Most are positive.

Source: Infront

Yesterday, Danske Bank raised its price target for the Austevoll Seafood share by NOK 36 after the closing hours of the stock exchange.

Conglomerate
Austevoll Seafood controls a significant amount of fishmeal production in Peru and Chile, as well as the pelagic fish exporter, Pelagia.

But the most important and most valuable asset in the balance sheet is the controlling shareholding in the world’s second largest salmon farmer, Lerøy Seafood Group. Austevoll Seafood and Lerøy Seafood stock prices have, of course, developed quite parallel on the Oslo stock exchange.

The Møgster family’s 112.6 million Austevoll Seafood shares have increased by EUR 100 million in value today. The Laco ownership is now worth EUR 1.5 billion.