Ísfélag increases stake in Austur, boosting exposure to Kaldvík

The Icelandic fishing and seafood company Ísfélag hf. has increased its stake in Austur Holding AS, rising from 29.3% to 43.4% following the settlement of the financing provided by the company to Austur.

In 2025, Kaldvík carried out a share capital increase, and Austur announced a contribution to subscribe for new shares. At the time, Ísfélag, which held 29.3% of Austur, provided financing to enable Austur to participate in Kaldvík's capital increase.

Specifically, Ísfélag provided NOK 341 million (approximately €29.7 million) in financing, through a combination of equity contributions and convertible shareholder loans.

Following the settlement of this financing, Ísfélag's stake in Austur will increase to 43.4%, while Heimstø AS will hold the remaining 56.6%. Austur, in turn, owns 60.021% of Kaldvík.

Ísfélag was founded in 1901 and, in 2023, merged with Rammi hf., the same year it began trading on the Nasdaq Iceland Main Market. The company currently operates four pelagic vessels, one freezer trawler, two demersal fishing vessels and one longliner.

Also, it owns processing plants where it produces pelagic fish, such as herring, mackerel and capelin; whitefish, mainly cod and haddock; cold-water shrimp; and fishmeal and fish oil.

Kaldvík AS is one of Iceland's leading salmon farming companies and the only salmon producer operating in the Eastfjords. In 2025, the company achieved Aquaculture Stewardship Council (ASC) certification for its farming sites, bringing its total number of ASC-certified sites to seven.