Danish maritime investment company J. Lauritzen has cashed in on its shares held in Hafnia, a product tanker unit of Singapore’s BW Group.
Pareto Securities, which acted as sole manager and bookrunner, revealed a block sale on social media.
Lauritzen Tankers was, in 2010, a founding partner of Hafnia Management. In 2013, the company sold its fleet of product tankers to Hafnia Tankers and at the same time acquired a minority shareholding in the company.
In 2019, Hafnia was formed from a merger between Hafnia Tankers and BW Tankers. Today, the Oslo-listed giant, with offices in Singapore, Copenhagen, Houston, and Dubai, owns and operates over 200 vessels.
Since February last year, Hafnia has seen its share price skyrocket from under NOK20 to trade today at over NOK70.
Kristian Mørch-led J. Lauritzen seized the window of opportunity to offload all the shares it had in the company for NOK324m ($29m). The Hellerup-headquartered group, amongst others, also holds stakes in dry bulk owner and operator Lauritzen Bulkers, gas ship operator BW Epic Kosan and offshore wind vessel players Eneti and Cadeler.
