John Fredriksen’s Hemen Holding has borrowed around 6.91m shares in Norwegian shipowner Solstad Offshore through a share loan agreement with compatriot lender DNB.
The Oslo-listed Solstad said that following the transaction, Hemen Holding will have approximately 13.82m shares in the company, which corresponds to an 18.4% stake and voting rights.
Solstad stock is up 10.5% over 30 days, but it has been declining since mid-December last year. The company has yet to release its Q2 numbers. It recognised a NOK343.6m loss for the first quarter of this year.
Kjell Inge Rokke through his Aker Capital remains the largest shareholder of Solstad Offshore with 18.74m shares, corresponding to a 34% stake.