Hunter Group has raised NOK 124m ($12m) in gross proceeds through a private placement of 70.9m new shares at the offer price of NOK 1.75.
The placement attracted significant investor interest, and was more than two times oversubscribed, according to a statement on Wednesday.
Hunter intends to use the net proceeds to strengthen the working capital in connection with two three-year, back-to-back charters on eco-design and scrubber fitted VLCCs, one of which was placed on subjects on 10 January at $51,000 per day.
