BW Group's Dorian LPG sell-off continues.
After a failed takeover attempt last year, Andreas Sohmen-Pao's firm sold more than 213,000 Dorian shares last Friday and another 118,000 this week for a total of $3m, according to Securities and Exchange Commission Filings.
BW now owns 6.6 million shares in the New York-traded, Connecticut-based gas carrier owner.
Two weeks ago, BW started offloading Dorian shares, paring down their 7.4 million share position a year after their bids to buy Dorian were rebuffed.
In April, Dorian founder John Hadjipateras said he turned down BW as his company had a very young fleet with investors set to see the rewards in due time.
The BW Group remains a major shareholder in Dorian, only behind Kensico Capital Management and their 8 million shares.
In late trading Wednesday, Dorian shares were down 11 cents to $9.69.
Tuesday, shares closed at a 52-week high of $9.80.
