Geveran adds to its Marine Harvest shares

Geveran Trading Co. announced today that it is adding to its holdings in Marine Harvest with a NOK 900 million (USD 156.6 million, EUR 118.5 million) purchase of shares in the company.

Geveran’s announcement said that the trading company has purchased 150 million Marine Harvest shares at a price of NOK 6 (USD 1, EUR 0.79) per share. The move coincides with Marine Harvest announcing the pricing of its EUR 350 million (USD million) convertible bond offering. Geveran’s announcement indicated it was buying the shares “from purchasers of the convertible bonds who wanted to hedge their positions.”

The Geveran purchase adds to the company’s store of over 1 billion shares in Marine Harvest, or 28.5 percent of the issued shared capital. Geveran also holds TRS agreements with a net exposure to 70 million shares in Marine Harvest.

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