Major Klaveness Combination Carriers (KCC) shareholder EGD Shipping Invest has cashed in a batch of shares in the shipowner.

Oslo-listed KCC said the Norwegian investment company, part of EGD Shipholding, completed a sale of 3m shares through a private placement on Wednesday.

The price was not given, but the stock was trading at NOK 78 in Oslo on Wednesday morning, meaning EGD has banked a potential NOK 234m ($22.7m)