Norwegian investor Rasmussengruppen has sold its entire stake in Danish bulker owner Norden.
The company said 4.869m shares had been disposed of for DKK 115 each in an accelerated bookbuilding process.
This would have netted DKK 559.93m ($89.7m). The stock is currently trading at DKK 114.90.
The deal leaves Rasmussengruppen with one known shipping investment: a 50% share in its geophysical venture with GC Rieber Shipping, Shearwater Geoservices.