One of Avance Gas' earliest shareholders has ended its investment in the Oslo-listed company.

According to regulatory filings, Sungas Holdings was exploring the possibility of selling its entire 4.65% stake, which is about 3m shares, in the gas carrier owner.

Avance Gas said on Thursday morning that Sungas had completed the sale of all 3m shares at NOK 17.50 each, earning it NOK 52.5m