Separately quoted Stolt-Nielsen and Sungas Holdings are exploring the sale of five million Avance shares worth around $85m in partnership with two banks.
ABG Sundal Collier and Danske Bank are handling the process, which requires potential investors to buy at least EUR 100,000 ($111,100) worth of shares.
Both Stolt and Sungas could cut their existing Avance stakes from 14.1% to 7% should all the allotted shares be sold, a statement said.
