After the New York-listed tanker giant announced that it will pay at least $317m in cash to buy Singapore-based Samco and its fleet of seven VLCCs, it unveiled plans for a registered direct offering of stock.
It did not say how many shares will be sold or how much money the sale would rake in.
Norway's RS Platou is acting as lead manager, bookrunner and placement agent on the deal, while compatriot Fearnleys will also be a placement agent.
Oslo-headquartered
