John Fredriksen’s Golden Ocean Group has spent a further $2.7m repurchasing 50,000 shares of its common stock.
The Oslo-and Nasdaq-listed bulk carrier owner paid an average price of NOK 54.4 ($6.38) per share, a filing said on Monday.
Golden Ocean subsequently holds 520,000 of its own shares, equivalent to 0.36% of the company’s outstanding share capital.
The Birgitte Vartdal-led company commenced the share buyback programme on 20 December and has repurchased shares in six separate transactions since then, all on the Oslo Stock Exchange.
The company has until 20 December 2019 to repurchase up to 5.48m shares remaining in the $54m repurchase plan.
Golden Ocean’s board has authorised the company to pay a maximum of $9 per share or the equivalent in NOK.
After the close in Oslo on Monday, Golden Ocean shares were trading at NOK 54.4.
In New York, shares were trading on the NASDAQ at $6.44 at 11.30am.
