A.P. Moller – Maersk has further reduced its stake in Norwegian car carrier player Höegh Autoliners by selling shares for about $115m.
The Danish shipping and logistics group has offloaded around 16.9m shares, corresponding to around 8.86% of Höegh Autoliners, at a price of NOK73 per share, or a total of NOK1.23bn. The news on Friday caused the stock to shoot up at NOK79.3 and close at NOK78.4, while Monday trading opened at NOK77.65.
Following the sale, Maersk remains Höegh Autoliners’ second-largest shareholder, with 20m shares worth about NOK1.56bn ($146m) today, representing 10.48% of the share capital and votes in the company.
Höegh Autoliners listed in Oslo in 2021. The company’s largest shareholder is Norway’s Leif Höegh & Co with over 50%. Maersk became a shareholder in Höegh Autoliners in 2008 after the company acquired 12 of its car carriers. The company today operates a fleet of about 40 owned and long-term charter ships with capacities ranging from 2,300 to 8,500 ceu.
In March, Maersk offloaded some 13.5m shares in Höegh Autoliners for nearly $80m at NOK61 per share.