The share price of Norwegian cod farmer Statt Torsk plunged 38 percent in Friday morning trading on the Oslo stock exchange after the company postponed the publication of its annual report.

"The delayed publication of the annual report for 2022 is due to a devaluation of biomass of approximately NOK 47 million (€4 million/$4.4 million) as of 31 December 2022," the company wrote in a stock exchange announcement issued May 5.

The company wrote down the value of its biomass from NOK 44 (€3.76/$4.15)/