JP Morgan Asset Management has shorted 575,397 shares.
The UK subdivision of the US big bank that has shorted a block of shares equivalent to 0.71 per-cent of Atlantic Sapphire.
The transaction was reported on the 24th of April and had a value of EUR 5.5 million on Friday.
According to the Financial Supervisory Authority of Norway’s short sales register, there are currently no other investors who shorted the land-based salmon farmer.
Short selling occurs when an investor borrows a security and sells it on the open market, planning to buy it back later for less money.
On the trading day on the Oslo Stock Exchange before Saturday 24th April, Friday 23th April, Atlantic Sapphire traded at NOK 83.80. Since then, the share price has risen in value. At lunchtime on Friday, June 25th, Atlantic Sapphire shares were trading at NOK 96.50.
This means that JP Morgan Asset Management had an unrealised gross loss of EUR 0.7 million on the trade.