Måsøval raised €40 million in share issue

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The issue was made during the evening.

Just after the stock exchange closed on Wednesday afternoon, Norwegian salmon farmer Måsøval announced plans to raise up to NOK 400 million (€40 million) in a share issue.

It was done quickly.

Late Wednesday night, Måsøval confirmed that it had made a private placement of 9.828 million shares at a price of NOK 40.7 and thus brought in a gross proceeds of around NOK 400 million (€40 million).

The funds will be used to partially finance the acquisition of the Vartdal group, which was acquired for one and a half billion kroner last week.

Read also: Ottar Vartdal sells his life’s work to Måsøval for €150 million

The Måsøval share ended at a price of NOK 42 on Euronext Growth on Wednesday. This means that Måsøval contented itself with a discount of 3.1 per cent to set the private placement which was acquired for NOK 1.5 billion (€150 million) last week.

Prior to the issue, Måsøval had a market capitalisation of NOK 4.5 billion (€450 million).