The Hoegh family is still standing squarely behind Hoegh Autoliners following its sale of shares worth NOK 766m ($70m) in a private placement.

Investment company Leif Hoegh & Co (LHC) disposed of 12.25m shares representing 6.4% of the Oslo-listed car carrier company in an accelerated book-building process that took five hours on Tuesday night.

The stock was priced at NOK 62.50,