Prosafe shares climbed 70 percent after Frode Teigens Kontrari AS built a 16.9 percent stake through purchases, acquiring 60.5 million shares for roughly 236 million kroner.
Frode Teigen Builds 16.9 Percent Stake in Prosafe
Frode Teigen moved into the ownership lists of the boligriggselskapet Prosafe through Kontrari AS, starting with 14 million shares at an average price of 3.42 kroner. Two weeks later, Teigen acquired an additional 30.1 million shares at 3.70 kroner. Trading activity continued across 20 distinct trading sessions, including a streak of 12 days on the stock exchange. In total, Kontrari AS purchased 60.5 million shares, spending approximately 236 million kroner on the accumulation.
Surging Share Price Delivers 113 Million Kroner in Unrealized Gains
The share price climbed 70 percent following the initial purchases by Teigen. Following two minor sales executed toward the end of July, Teigen holds 59,517,881 shares in Prosafe, representing 16.9 percent of the total outstanding shares. That remaining stake holds a market value of 345 million kroner based on a share price of 5.81 kroner, generating an unrealized gain of approximately 113 million kroner. Including the 2.3 millions from the July sales, Teigen is 115 million kroner in the positive.
Pro Tip: Tracking major shareholder movements through regulatory filings and ownership registries often reveals accumulation trends well before broader market consensus catches up. Always verify average purchase prices against current market valuations.
Creditor Takeover Preceded Teigen Accumulation
Prosafe ble tatt over av långiverne i fjor sommer. When the recapitalization was completed on July 21, 2025, 193 million dollars in debt was converted to 90 percent of the shares. Flere av dem har solgt seg ned, og trolig etterlatt aksjene sine til Teigen.
Burlington Loan Management Reduces Stake
Kredittfondet Burlington Loan Management satt med 17,7 prosent etter konverteringen. That percentage was cut incrementally, and on June 19 it was down to five percent. Resten av selgerne ligger under flaggegrensen på fem prosent.
Did You Know?
Debt-to-equity conversions frequently result in high selling pressure shortly after a restructuring concludes, as institutional creditors and credit funds look to exit non-core equity holdings they received in lieu of cash repayments.
Frequently Asked Questions
How many shares does Frode Teigen own in Prosafe?
Following two minor sales in late July, Teigen sitter med 59.517.881 aksjer, tilsvarende 16,9 prosent av utestående aksjer.
What was the total cost of Teigen’s Prosafe investment?
Totalt har han kjøpt 60,5 millioner aksjer for rundt 236 millioner kroner.
Who previously owned the shares Teigen acquired?
Flere av dem har solgt seg ned, og trolig etterlatt aksjene sine til Teigen. Kredittfondet Burlington Loan Management satt med 17,7 prosent etter konverteringen.
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