Torvald Klaveness reduces majority stake in KCC with $66.5m share sale
The principal shareholder has offloaded an 11% interest in Oslo-listed Klaveness Combination Carriers through an upsized private placement.
Torvald Klaveness has trimmed its equity position in Klaveness Combination Carriers (KCC), securing gross proceeds of approximately NOK 619 million ($66.5 million) from an institutional block sale.
The divestment was executed through an accelerated private placement completed on Wednesday night. In total, the group sold 6.54 million shares at a fixed clearing price of NOK 94.70 per share.
The final volume of the placement was expanded slightly compared to the initial transaction outline. The transaction saw the group's holding in the Oslo-listed combination carrier operator decrease by roughly 11 percentage points.
Following the completion of the offering, Torvald Klaveness has relinquished its majority ownership status in KCC, although it retains a sizeable controlling position in the company.
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