Two more big-name investors have reduced their holdings in former VLCC owner Hunter Group.
Main backer Arne Fredly’s AF Capital sold stock in two deals on Monday, offloading 2.3m shares at NOK 0.09 per share and 20m at NOK 0.0775 per share, bringing in NOK 1.57m ($157,000).
This cut AF Capital’s stake in the company to 29.29%.
Shipowner Arne Blystad’s Songa Capital disposed of 28.7m shares on the same day for an undisclosed price.
Songa Capital now holds 7.23m or 1.26% of Hunter, which sold its last four VLCCs in 2022 for $383m, handing out the profits in dividends.
Fredly’s Apollo Asset had earlier exercised warrants for 15m shares in the company, building its ownership to 183.5m shares.
The latest deals follow disposals by another original Hunter Group backer, Sundt AS.
The Sundt family investment company is controlled equally by Else Helene Sundt, said to be Norway’s richest woman, and her brother, Christian.
The family helped fund Hunter’s deal to order the fleet of eight VLCCs in 2018.
Private placement
A stock exchange filing showed Sundt AS sold 18.14m shares on Thursday. It now has 12.12m shares remaining — a stake of 2.11%.
The sales would have been worth NOK 33.5m at the price of NOK 1.85 on that day.
The share price in May 2018, when Sundt AS took part in a private placement of Hunter shares, was around NOK 3.28.
Hunter also had backing for the VLCC move from Fredly and Torbjorn Kjos. Blystad also bought shares in a near-$50m placement.
Hunter is examining new investments in shipping but has not yet revealed details of its plans.
