The second-largest shareholder in Klaveness Combination Carriers (KCC), EGD Shipping Invest, has sold 3m shares for around $20.6m.
The Norwegian investment company offloaded the shares through a private placement at a discount price of NOK71 per share, compared to yesterday’s close at NOK78. Consequently, KCC shares opened at NOK73 on Wednesday.
After the sale, EGD Shipping Invest, part of EGD Shipholding, whose CEO Magne Øvreås also sits on the KCC board, now owns 5.8m shares, or just shy of 11% of KCC. EGD Shipholding also holds 55,691 warrants, each with the right to subscribe for one share in KCC, corresponding to 0.11%.
The Oslo-listed KCC, with eight Cabu and eight Cleanbu combination carriers in its fleet, logged a fourth-quarter net profit of $15.3m.
The company recently fixed one of its Cleanbu ships to an undisclosed leading energy player for two years. The remaining seven Cleanbu vessels will remain in KCC’s operation, servicing contracts of affreightment and spot voyage charters in combination trading.
