Billionaire shipowner John Fredriksen continues to increase his ownership in offshore wind vessel owner Edda Wind.
A filing to the Oslo Stock Exchange showed his private Geveran Trading acquired a further 2m shares on Thursday, bringing his total to 23.22m, or 20.68%.
At a price of NOK 24.60 on Friday, this would have cost NOK 49.2m ($4.5m).
The stock was trading at NOK 28.70 last November.
Fredriksen first bought into the shipowner during its Oslo IPO in 2021.
He and Singapore-based shipowner Idan Ofer acquired about 12% each.
The company was set up by Norwegian offshore shipowner Ostensjo Rederi. Wilhelmsen Group later took a major stake.
Last year, Fredriksen and Ofer pumped in more money through a $115m share offering that made Wilhelmsen the biggest shareholder on 25.38%.
Fredriksen previously had 18.87%, but has now gone past second-biggest investor Ostensjo, which has 18.96%.
The cash is going into expanding the fleet.
More newbuildings coming
In March this year, Edda Wind ordered four commissioning service operation vessels at Vard.
The first two will be delivered in the first quarter of 2025, the third in the second quarter and the last in the first three months of 2026.
Edda Wind is paying €63m ($67m) per ship and has secured options for up to four more vessels, which will also be handed over in 2025 and 2026.
The whole series would amount to a spend of $536m.
