Trader and shipowner Vitol has built its holding in Latvian Shipping Company (LSC) to 97.05% in a stock issue.
The group acquired 400m new shares as part of a EUR 120m ($141.53m) placement carried out by the Riga product tanker owner.
Vitol previously had 90.79% of LSC, which now has a share capital of EUR 180m.
The trader is taking the tanker company private, delisting it from the OMX Baltic Exchange.
