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Oil company Saga Tankers more than doubled in the first few minutes when the Oslo Stock Exchange opened on Tuesday.
IN THE WIND: Øystein Stray Spetalen has more iron in the fire, but renewable ambitions at Saga Tankers (to be called Saga Pure) are the company doing the best at Børsen this Tuesday.
Mattis sandblad
Published:,
Right after the opening of the Oslo Stock Exchange on Tuesday, Saga Tankers’ stake increased by 135 percent. Even after a drop from this upper level, the stock is up 76 percent.
The jump to the company of Øystein Stray Spetalen happens after Saga Tankers announced new plans Monday afternoon. Nel director Bjørn Simonsen agreed to lead Saga Tankers, which will also change its name to Saga Pure.
Along the way, he and a stranger have been allowed to participate in an issue that has already proven to be very lucrative.
Simonsen brings NOK 15 million in fresh capital to the company in the share issue. But he already has a big profit on paper thanks to the price increase.
With a share price of NOK 1.60, the profit is NOK 11.7 million.
The unknown person, whom the company hopes to hire early next year, buys new shares for NOK 3.0 million and now has a paper profit of NOK 2.3 million.
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Saga Tankers changes name and manager – bets green
Options can provide great benefits
In addition, both have received stock options divided into three equal shares, with different prices. The options can be used for the next 36 months and will cost NOK 1.50, 2 and 2.50 per share purchased with the options, respectively.
Therefore, the future evolution of prices will depend on whether there will be any profit.
With a share price of NOK 1.60, the options for Simonsen and the stranger are NOK 6.0 and 3.6 million, respectively. So there is little point in redeeming anything beyond the first block. If, for example, the share price rose to NOK 3, there would be big profits.
Then the issuance of shares and options will have given a return of a total of 50 million for Simonsen and 15.9 million for the unknown.
