John Fredriksen has put $100m of his own money into a private placement carried out by Flex LNG, but has seen his holding reduced.
The Oslo-listed company's billionaire backer bought 57.64m shares at NOK 14.25 each for a NOK 821m ($100m) outlay.
Fredriksen's private Geveran Trading now has 44.6% of Flex, down from 49.91%.
Geveran is also party to total return swap agreements with underlying exposure to 8.25m
