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Learning From the Master – Part II

On the other hand, Mr. Fredriksen’s investment in Golden Ocean Group (“GOGL”) is not faring as well, but is well on its way to a cure as Messrs Fredriksen and Troim continue to work their magic. It appears that they have restructured the company’s obligations while restoring the balance sheet back to health. And there was nothing mystical about it as all the players contributed by enduring pain in the short-term, hopeful of a recovery in the long-term.

With the assistance of Fearnley Fonds, DnB Nor Markets, Nordea Markets, First Securities, Platou Securities, Arctic Securities, and ABG Sundal Collier, the company issued 180 million (upsized from 165 million due to demand) new shares at a subscription price of NOK 4.10 per share resulting in gross proceeds of approximately $110

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