We incorporate the trading update which included a Q3 harvest of 6,800t, 1,200t below ARCe/Guidance. To our understanding there has not been any abnormal mortality and as such, full-year volume estimates are left unchanged as we shift volumes from Q3 to Q4. The short-term equity story of Grieg Seafood depends on the size of the extraordinary dividend related to the divestment of Canada and Finnmark. We expect NOK 35/sh, while the total potentially could be ÑOK ~10/sh higher. Looking further ahea ....
