New shares issued in a bond conversion have pushed Mogster Group’s stake in DOF below the 50% mark.
DOF, a Norwegian offshore vessel owner, said the holders of a convertible bond loan have elected to convert NOK 29.5m ($3.54m) of bonds into shares.
The company issued 29.5 million shares at the conversion price of NOK 1 apiece, which is just below DOF’s NOK 1.09
