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Mystery investor set for big profit on Ship Finance.
(From Lloyds List)
Byline: Sale of $30m of shares lined up while Fredriksen raises stake, writes Tony Gray
AN INSTITUTIONAL shareholder in Ship Finance International, the tanker owning subsidiary of Frontline, is set to reap a handsome profit after holding the company's equity for less than three months.
And John Fredriksen, Frontline's largest shareholder, has substantially increased his stake in Ship Finance since its New York listing in June.
Ship Finance has registered to sell up to 1.6m shares worth more than $30m on behalf of the shareholder.
According to a shelf filing with the US Securities and Exchange Commission, however, the company will not receive any of the proceeds.
The unidentified US institution holds 1.6m shares in Ship Finance through the vehicles Passport Master Fund LP and Passport Master Fund II LP.
- Frontline investors to get Ship Finance share bonanza.
- News wire article from: Europe Intelligence Wire February 28, 2007 700+ words
...owning affiliate Ship Finance International to shareholders. Frontline disclosed this at...general interest in the Ship Finance share,' Frontline explained. Each...as the shares in Ship Finance, Frontline shareholders are...
- Ship Finance International Limited / Frontline Ltd. - Sale and Acquisition of...
- Press release article from: PR Newswire May 19, 2005 700+ words
...arrangements between Ship Finance and Frontline Ltd. ("Frontline...Concurrently, Frontline will sell three...similar vessels to Ship Finance for an aggregate...comment: "Frontline bought the three...being sold to Ship Finance last year for...
- Ship Finance International Limited, a Wholly-Owned Subsidiary of Frontline...
- Press release article from: PR Newswire May 25, 2004 700+ words
Ship Finance International Limited ("Ship Finance International"), a wholly-owned subsidiary of Frontline Ltd. today announced...managed by subsidiaries of Frontline. Additional Information Ship Finance International has filed...
- Sale and Acquisition of Suezmax Tankers - Ship Finance International Limited /...
- Press release article from: PR Newswire May 19, 2005 700+ words
...arrangements between Ship Finance and Frontline Ltd. ("Frontline...Concurrently, Frontline will sell three...similar vessels to Ship Finance for an aggregate...comment: "Frontline bought the three...being sold to Ship Finance last year for...
- FRO - Frontline Pays US$400 Million 'in Kind' Dividend in Spin Off of a Further...
- Press release article from: PR Newswire January 28, 2005 700+ words
...almost half of Frontline's remaining holding in Ship Finance Int. Ltd...400 million. Frontline shareholders...1 share in Ship Finance for each 4...announce that Frontline spins off further 25% of Ship Finance. The spin...
- SHIP FINANCE INTERNATIONAL LIMITED, A WHOLLY-OWNED SUBSIDIARY OF FRONTLINE...
- News wire article from: Europe Intelligence Wire May 25, 2004 700+ words
...May 25, 2004 - Ship Finance International Limited ("Ship Finance International...owned subsidiary of Frontline Ltd. (NYSE:FRO...by subsidiaries of Frontline. Additional Information Ship Finance International has...
- Frontline cuts back Ship Finance shares.
- News wire article from: Europe Intelligence Wire May 28, 2004 700+ words
...shareholder will receive one share in Ship Finance for every four shares held in Frontline. The record date for the distribution...to include the right to receive Ship Finance shares. Frontline and Ship Finance International are expected to announce...
- Weak market for shipping shares causes Frontline to postpone Ship Finance...
- News wire article from: Europe Intelligence Wire November 15, 2005 700+ words
...company explained: 'Frontline sees good value in the Ship Finance stock and feels that Frontline's shareholders will...than two months ago, Frontline continued to maintain...intended to divest the Ship Finance interest by the end...
- FRO - Frontline pays US$400 million "in kind" Dividend in Spin Off of a further...
- News wire article from: Europe Intelligence Wire January 28, 2005 700+ words
...almost half of Frontline's remaining holding in Ship Finance Int. Ltd...400 million. Frontline shareholders...1 share in Ship Finance for each 4...announce that Frontline spins off further 25% of Ship Finance. The spin...
- Ship Finance International Limited to sell five vessels to Frontline Ltd.(Brief...
- Newspaper article from: Nordic Business Report January 18, 2007 700+ words
...January 2007-Ship Finance International Limited...five vessels to Frontline Ltd(C)1994...USD183.7m, and Ship Finance will receive a...approximately USD62m to Frontline for the termination...Following these sales Ship Finance will only have...
