TIL Finalizes USD 60 Million Share Buyback

first_imgzoom Oslo-listed investment company Tanker Investments Ltd completed a total share repurchase program of USD 60 million, authorized in 2015, on January 13.The company bought 3,000 of its shares on the Oslo Stock Exchange at an average price of NOK 94.9 per share, implying a total consideration of NOK 284,7 thousand (or approximately USD 32,3 thousand).Following the transaction, Tanker Investments holds over 5,1 million of its own shares, constituting approximately 13.35% of the company’s common shares and votes.In September 2015, the company announced a USD 30 million upsize to its existing share repurchase program bringing the total amount to USD 60 million.Tanker Investments’ fleet consists of 20 vessels, including two VLCC tankers scheduled for delivery to a buyer before the end of January 2016.last_img read more