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Singapore’s BW Group has offered 5.1% of its shareholding in Oslo-listed Hafnia to again the product tanker large’s twin itemizing scheme.
The sale included 26m out of some 246m shares (48.23% stake) BW held in Hafnia, priced at NOK73.
Hafnia stated in a submitting that the aim of the sale was to reinforce the buying and selling liquidity in its shares in help of its deliberate twin itemizing within the US and to rebalance the BW Group’s portfolio of 18 group corporations. Earlier this month, BW additionally put on the market some $82.9m price of shares in VLCC proprietor DHT.
The Andreas Sohmen-Pao-led maritime conglomerate will money in about NOK1.9bn ($178m) from the most recent transaction wherein DNB Markets, Fearnley Securities and Pareto Securities acted as joint coordinators and bookrunners.
Hafina’s transfer for a New York itemizing was revealed final November. The proprietor and operator of about 130 tankers delivered a report revenue of $793.3m in 2023, marking its highest full-year end result for the second yr. The corporate ended the yr with 116 owned tankers, valued by brokers at almost $5bn.
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