Folketrygdfondet increases stake in Frontline

Norwegian state pension fund Folketrygdfondet has recently acquired 100,000 shares in Frontline and with it passed the flag limit at 5%.

With around 9.82m shares in John Fredriksen’s tanker company after this transaction, Folketrygdfondet has an ownership interest of 5.01%.

The purchase comes despite Frontline posting red numbers for the second quarter of 2021 with a net loss of $26.6m, or $0.13 per basic and diluted share.

The company’s share price has slightly bounced back in the past few days, reaching close to NOK68 on the Oslo Stock Exchange.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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