The European arm of Russian whitefish giant Norebo Group is reducing its share capital by almost 75 percent, according to documents posted to UK registry Companies House.

In the documents filed on Dec. 19, Norebo Europe, headquartered in the UK, said it is reducing its share capital by more than £17.6 million (€20 million/$21.2 million) -- shrinking it from £23,750,000 (€27.2 million/$28.9 million) to £6,147,032 (€7 million/$7.5 million) -- by "cancelling and extinguishing" 17,602,968 of the issued ordinary shares of £1 (€1.10/$1.20)