Two more big-name investors have reduced their holdings in former VLCC owner Hunter Group.

Main backer Arne Fredly’s AF Capital sold stock in two deals on Monday, offloading 2.3m shares at NOK 0.09 per share and 20m at NOK 0.0775 per share, bringing in NOK 1.57m ($157,000).

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This cut AF Capital’s stake in the company to 29.29%.