In a filing with the Oslo bourse the Norwegian tanker operator said it issued over 1.6 million shares in the month of April but failed to offer further details.
This makes it difficult to determine how much cash the owner raised during the most recent phase of the ATM programme but one analyst says $6.0m would be “a solid guess”.
The forecaster, who has been tracking the owner for several years, says the estimate is based on an assumption that New York-listed shares averaged roughly $3.72
