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.
