Oslo-listed TIL snapped up 450,000 shares at NOK 68.5 ($10.39) each yesterday and will now keep the book open until this evening.
The owner explains this phase of the offering, which is being handled by Pareto Securities, will be capped at $15m.
To date TIL has bought back 1.2% of the company.
Chief executive William Hung said when the buyback was revealed that a disconnect between weaker equity markets and an improving tanker market provided an ideal opportunity to generate shareholder value.
The
