Kjos and co made big profits in the short-term market – DN.no

The Norwegian title resembled a rollercoaster on the Oslo Stock Exchange last year due to uncertainty among investors around the level of debt in the company, and saw a record for a battle of bids this year. Some players in the financial environment have shown a keen interest in speculating on stock price declines, called shorting. The Norwegian title was in first place short-term shares on Oslo Børs, with more than a third of the shares lent on a short-term basis for a given period

Norwegian chef Bjørn Kjos, 72, and his three children played a crucial role in reducing the stock of other actors. The family is the main owner in Norwegian with only a quarter of shares – with Kjos' business partner and the Norwegian president, Bjørn H. Kise, 68, and brother Tore Kjos (74). Through the intermediary of HBK Holding, they lent a significant portion of the shares to the short sale last year.

She made a big profit and helped to increase the profits of HBK Holding to over NOK 35 million last year. loan in Norwegian

During the second half of last year, the share of Norwegian shares went to the loan, and an overview of Sparebank 1 Markets shows that at most, 35% shares were borrowed. shows the dramatic fall of the news in Norwegian in recent weeks. The gray line is the price of the action. Source: Sparebank 1 Markets “title =” La ligne bleue montre la chute dramatique du déficit en norvégien ces dernières semaines. La ligne grise est le prix de l'action. Source: Sparebank 1 Marchés “/>











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HBK Holding has borrowed for the most part over 60% of its own Norwegian shares for short-term purposes. Bjørn Kjos commented on the shortage of Hegnartv just before Christmas last year when he was asked about falling stock prices:

"No, maybe you should not borrow as much. Maybe a little too short, "said Kjos.

HBK Holding had already reaped most of the gains last year. The accounts of HBK Holding indicate that the financial result was just under NOK 60 million. While over NOK 11 million can be attributed to the income of a wholly-owned property company, the item "other financial income" has increased from one to 41 million in one year.

Most are taken care of by the stock loan. The Norwegian company did not pay dividends and the airline did not pay dividends.

Neither President Bjørn H. Kise nor the son and Kjos board member, Lars Ola Kjos (40 years old), responded to Wednesday 's investigation. no shorting

The short share of Norwegian stock has fallen from around 30% to less than 10% after Norwegian announced a number in March this year and received 1.5 billion new stock dollars.

It was also known that the International Airlines Group (IAG), which owned British Airways, had bought a stake in the company and was considering making an offer.

Bjørn Kjos and Bjørn H. Kise also own Sneisungen Private, which holds a significant interest in Norwegian Finance Holding, which is responsible for Bank Norwegian. Sneisungen accounted for more than NOK 70 million in shares of the bank and the shares had a market capitalization of more than NOK 422 million at the end of last year. The company with another activity recorded a loss of NOK 1.7 million.

Lars Ola Kjos' Green 91 Company is the fifth largest owner of Bank Norwegian with shares worth over NOK 605 million. His private company lost a little more than a million dollars last year after a marginal activity only (Terms)

HBK Holding, 2017 annual profit (in MNOK)	2017	2016	Modify
]	–	–	–
Operational result (ebit)	-4	-2	-%
Profit before tax	37	8	362.5%