Promise of a hefty dividend following a merger with Frontline 2012 sent shares in Frontline shooting up in Oslo today.
The John Fredriksen-led tanker company saw over one tenth added to its value after a pledge to pay up to 100% of its net profit to shareholders following the deal.
Eirik Haavaldsen of Pareto Securities says the company’s lower than expected third quarter results were of minor importance given the looming merger.
