The Norwegian investor group is now well on its way to completing the process of taking Atlantic Sapphire off the stock exchange.

Photo: Atlantic Sapphire

Coral HoldCo takes control of 99% of Atlantic Sapphire

The general meeting of the Florida land-based salmon farmer has approved the capital increase that will give the holding company a 99.03% stake

Editorial team Editorial team

Published September 16, 2026 - 10:34 a.m. Modified September 16, 2026 - 10:50 a.m.

The decision was made at an extraordinary general meeting on Tuesday, September 15.

The capital increase means that debt under the company's bridging loan will be converted into 1.125 billion new shares at a subscription price of NOK 0.10 per share.

Coral HoldCo AS

Coral HoldCo AS is a Norwegian holding company founded in March 2026 by an investor group with the goal of taking over and securing control of cash-strapped Atlantic Sapphire.

The company is a joint venture established by key shareholders and loan holders, including conventional salmon farmer Nordlaks, Strawberry Capital, Joh. Johannson Eiendom, Condire Management, and Nokomis Capital.

After the conversion, Coral HoldCo will own just over 1.15 billion shares, corresponding to 99.03% of the shares and votes in Atlantic Sapphire.

The outcome was largely signalled in advance. The company already stated in the notice about the EGM that the conversion would raise Coral HoldCo's ownership stake to more than 90%.

This opens the door to a forced redemption of the outstanding shares. Atlantic Sapphire has previously stated that the plan is to then apply for delisting of the shares from the Oslo Stock Exchange.