Mowi shares dive as GBL cuts stake in half at discount

Groep Brussel Lambert NV

22/06/2022 08:59

** Shares in Mowi  MOWI.OL  are down 6% in morning trade
after Groupe Bruxelles Lambert (GBL) sold a 3.5% stake in the
Norwegian salmon farmer
    ** The shares were sold via an accelerated bookbuilding
process at a price of NOK 222 per share, representing a discount
of about 6% when compared to Mowi's close price on Tuesday
    ** Following the deal GBL retains 18.1 million shares in the
salmon farmer, corresponding to 3.5% of Mowi's share capital 
    ** Mowi stock is at its lowest in over three months, but
still up 6.4% year to date
    ** Shares in GBL slide 1.8%, in line with BEL 20 index
 .BFX  
    ** KBC Securities says that given the worsening
macroeconomic environment, it welcomes GBL's decision to
partially exit Mowi
    ** GBL is "killing two birds with one stone" with lower
exposure to cyclical business and freeing up capital, the
brokerage says


 (Reporting by Jacob Rasmussen)
 ((jacob.rasmussen@thomsonreuters.com))