Norwegian tycoon Kristian Eidesvik is planning to delist mini-bulker owner Wilson from the Oslo Stock Exchange following a stock repurchase offer.

The company said it is launching a bid to buy back 4.36m shares at NOK 69 each, for a total maximum spend of NOK 300.6m ($30.4m).

The stock was trading up more than 7% at NOK 68.20 on Monday afternoon following the announcement.