NAT boosts NAO stake with $5.8m share purchase

2014-12-11

Nordic American Tankers (NAT) has increased its stake in Nordic American Offshore (NAO) through $5.8m of share purchases.

On 1 December the company announced that it had upped its stake in NAO from 17.1% to 18%. The latest purchases on the open market of 488,216 NAO shares brings NAT's stake in NAO to 19.2%.

New York Stock Exchange-listed NAO owns six PSVs with a further four due for delivery in 2015.

Source from : Seatrade Global

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