John Fredriksen-controlled tanker operator Frontline says it is selling its entire holding of 1,714,544 shares in the Norwegian shipping futures market Imarex to Nymex Holdings.
A Frontline statement says: “The sale price is NKr160 per share, with proceeds of approximately $51 million, enhancing our dividend capacity.” Frontline was one of the founding shareholders of Imarex. It says: “We believe that the sale of our shares in the company to Nymex will be positive for Imarex and enhance its business prospects going forward.”
A Frontline statement says: “The sale price is NKr160 per share, with proceeds of approximately $51 million, enhancing our dividend capacity.” Frontline was one of the founding shareholders of Imarex. It says: “We believe that the sale of our shares in the company to Nymex will be positive for Imarex and enhance its business prospects going forward.”