Arne Fredly has boosted his holding in VLCC specialist Hunter Group with the purchase of shares worth around $1m.
Fredly’s Apollo Asset snapped up 2,680,796 shares in the Oslo-quoted shipowner at NOK 3.20 ($0.37) each today.
Following the latest move on the stock, Apollo boasts 102,804,032 shares in Hunter, a 26.71% stake worth $38.6m.
Hunter’s stock is down almost 20% in the past month amid what has been a difficult period for global stock markets.
However, the shares are still up over 56% in the year to date.
Hunter will begin taking delivery of its eight VLCC newbuildings late next year and will take its fleet to 11 tankers should options be exercised.
