Måsøval AS plans to issue shares worth up to 825 million NOK, followed by a listing on Euronext Growth, Oslo Stock Exchange. “It’s clearly a milestone to allow other owners into our family company,” says Lars Måsøval, who, together with Anders, represents the third generation of owners and operators of Måsøval AS.
Sistranda, June 10, 2021.
The company, headquartered in Frøya, has experienced strong growth in recent years. The stock exchange listing is a natural step forward in the development of the company, which had a turnover of 928 million kroner in 2020, with a pre-tax profit of 242 million kroner.
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Read the full stock exchange announcement
Read or download the annual report for 2020
Continuing as influential owners
“We intend to remain an influential owner going forward, but that being said, we are pleased if others believe in what we have achieved so far in the company’s history and hope that new shareholders find our company interesting to invest in. The fact that such strong cornerstone investors have already subscribed is a great vote of confidence in Måsøval AS,” says Chairman Lars Måsøval.
Over the past 20 years, Måsøval has had a 20% annual volume growth in Norway. The company has been engaged in aquaculture since 1972 and is one of the pioneers in the Norwegian fish farming industry. Måsøval AS has its headquarters in Frøya, at the outermost part of the Trøndelag coast, but also has facilities in Kristiansund, Aukra and Hustadvika. Måsøval is experiencing strong growth and has a total of 120 employees in our companies.
Read more about Måsøval AS
“We will do our utmost to ensure that in the future, value and jobs continue to be created, and that Måsøval AS remains a company that stands firmly on its own feet in the years to come and contributes to the further development of the aquaculture industry for coastal communities and for Norway,” says Lars Måsøval.
Strong innovation power
Måsøval is a company with strong innovation power and has, among other things, received development licenses for Aqua Semi, which is a partially submerged, semi-closed production unit for salmon built in steel.
Read more about Aqua Semi: Four important development licenses
“The capital raised from the stock exchange listing will be used to finance the company’s further growth. As shown in our annual report, we have planned and developed a number of growth projects for the future,” says the company’s CEO, Asle Rønning.
The plans include investments to optimally utilize new licenses, several acquisitions, as well as investment in a brand new facility for post-smolt production.
For further information, please contact:
Lars Måsøval (Chairman), +47 918 38 684, lars@masoval.no
Asle Rønning (CEO), +47 918 09 043, asle.ronning@masoval.no
Gunnar Aftret, CFO, +47 913 77 389, gunnar@masoval.no
