The company said it had offloaded 3.8m shares, plus a further 5.76m due to be transferred to it through a de-merger deal with Ferncliff.

The combined stake totals 10.13% in Prospector and Saga now has no shares left in the drilling company.

The price was NOK 17.50 each, giving it proceeds of NOK 167.3m ($26.2m).

It said: “The purpose of the transaction is to have liquidity to pursue other attractive investment opportunities that may arise.

“The