Two days after NorthSouth HQ reported that Grupo Lusiaves had resumed buying Scandi Standard shares, a second, much larger trade has appeared. A filing published on 6 November in Finansinspektionen’s insider register, again in the name of Scandi Standard board member Paulo Gaspar for a closely associated party, shows the purchase of 69,748 shares on 3 November at an average price of SEK 189.43 — about SEK 13.2 million, or roughly €1.2 million at October’s average exchange rate.
It is the largest single purchase by the Figueira da Foz poultry group since the block of 119,561 shares it bought on 18 September, and it came the day after the 2 November trade of 18,921 shares at SEK 185.75. Swedish financial press picked it up: Börsvärlden reported that “Scandi Standard’s Portuguese major shareholder buys shares for just over SEK 13 million”, and Affärsvärlden that the chicken company’s Portuguese major owner was “filling up” on shares.
Paying up, again
The price keeps rising. SEK 189.43 is about 2 percent above what Lusiaves paid on 2 November, 12 percent above its September purchases at SEK 168.85–170.00, and about 52 percent above the SEK 125 at which Scandi Standard’s rights issue was priced. A shareholder buying on the open market at successively higher prices is signalling conviction, and the trade comes after the Nordic chicken producer reported a record third quarter on 20 October, with adjusted EBIT up 18 percent to SEK 220 million on net sales of SEK 4,038 million.
The register since the rights issue
| Trade date | Shares | Average price (SEK) | Approx. value (SEK) |
|---|---|---|---|
| 18 September | 119,561 | 168.85 | 20.2 million |
| 21–24 September (4 trades) | 51,447 | 169.66–170.00 | 8.7 million |
| 2 November | 18,921 | 185.75 | 3.5 million |
| 3 November | 69,748 | 189.43 | 13.2 million |
| Total | 259,677 | 45.7 million |
Source: Finansinspektionen insider register, Scandi Standard AB (publ), filings by Paulo Gaspar (closely associated party), retrieved 8 November 2026. Values are NorthSouth HQ calculations.
How big is the stake now?
Ownership services put Lusiaves at 14.18 million shares, or 20.45 percent of the 69.3 million shares outstanding after the rights issue, on 10 September. Adding the open-market purchases since then gives about 14.44 million shares, or roughly 20.8 percent. That is a NorthSouth HQ estimate rather than a disclosed figure; Lusiaves has not crossed a flagging threshold (25 percent would be the next) and the register does not itemise any shares it may have received in the issue itself. It remains well ahead of Investment AB Öresund and Lantmännen, the other large blocks.
Why it matters for the corridor
Lusiaves’ stake is the most significant Portuguese shareholding in a Nordic listed company in NorthSouth HQ’s coverage, and it is still growing — even as Denmark, one of Scandi Standard’s home markets, moves towards a national ban on fast-growing “turbo” broilers. Two purchases worth almost SEK 17 million in two days suggest the Portuguese owner reads the regulatory noise as manageable and the earnings recovery as durable. The next markers are any further filings, Scandi Standard’s fourth-quarter report and the composition of the board proposed for the 2027 annual general meeting.