Norwegian investor Joakim Hannisdahl made a profit from shorting Avance Gas last week as the stock continues to take a beating.
His Gersemi Shipping Fund shorted Avance Gas after the $1bn deal with BW LPG was announced at noon on Thursday.
“The price of $1,050m was similar to our $1,046m fair value assessment, which gave us a NAV/share of NOK 133,” Hannisdahl said in a weekly update note.
