The move, which first came to light a month ago, could see Kistefos, Sveaas’ management company, and other executives collect over $155m, according to documents released today.
Western Bulk is selling stock at between NOK 15 and NOK 22 per share, in a move which could value the company at north of $500m.
The IPO, which sees Western Bulk looking to return to the Oslo exchange in a red hot investor market for shipping, includes the offer of between 29,687,697 and 42,414,970 shares currently controlled by Kistefos and unspecified management.
This
