Shipping group AP Møller-Mærsk sold 20 million shares of Höegh Autoliners stock on Monday at a price of NOK 90, equating to a deal worth about NOK 1.8 billion. This is according to what the stock exchange announced on Monday evening.

The sale represents 10.5% of the outstanding shares, which represented the entire ownership of AP Møller-Mærsk. In March, the company sold Höegh shares for NOK 820 million.

Höegh Autoliners was a dream, pure and simple, for investors who got involved when the company went public nearly two years ago. Since the IPO, values ​​have nearly quadrupled, making lead owner Leif Hoge and his family a few billion richer.

Before the IPO, the company was owned by the Hoeg family (60.5 percent), Maersk (38.2 percent), and CEO Andreas Inger (1.3 percent). The Høegh family now owns 41.6% of the company, equivalent to a value of NOK 7.3 billion.

The shipping company attracted some of the country’s best-known private investors, such as Harald Maureus Hansen, Arne Friedli, Peter Hermannrod, Öivin Brømer and Kjetil Skorstad. Many of these profits have now been made.

Höegh’s CEO, Andreas Inger, has also done so. Three weeks ago, he sold a third of his ownership, equivalent to 53 million Norwegian kroner. Enger justified this by saying that he did not own any specific financial assets outside of Hoeg’s position, and that he did not want to sit with such a concentrated investment portfolio.

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The big question now is how long Höegh Autoliners’ strong earnings will last, considering that the global economy is slowing and the new ships will eventually be able to arrive.(conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links that lead directly to our pages. No copying or other use of all or part of the Content may be permitted except with written permission or as permitted by law. For more terms see here.