Cypriot shipowner Pelagic Partners is increasing its holding in Norway’s Golden Energy Offshore Services (GEOS).

A stock exchange filing showed Pelagic Investment Fund RAIF, closely associated with co-founder Atef Abou Merhi, bought 6.12m more GEOS shares on Tuesday at NOK 1.2975 each.

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This is a total of nearly NOK 8m ($770,000).