Arne Blystad’s Songa Bulk has raised $74.27m from its initial share sale which closed this morning.

Blystad contributed $15m in what is the first shipping listing on Oslo’s over the counter (OTC) market in a couple of years.

Directors Herman Billung and Per Kristian Aamlid took smaller stakes. 

Billung, managing director of Songa Bulk, described the issue as a roaring success.