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I.M. Skaugen buys back NOK 2 million of convertibles
Pittsburgh, Oct. 14 - I.M. Skaugen ASA bought back NOK 1 million of its convertible bonds, according to a company news release.
The repurchase was at a price of 252. If converted the bonds would be exchanged for 16,666 shares.
The Oslo, Norway, marine transportation company originally sold NOK 124 million of the convertibles in July 2001. There is currently NOK 96.5 million outstanding of which I.M. Skaugen owns NOK 26.5 million.
The announcement is the latest in a series covering repurchases. On Oct. 13 the company bought back NOK 2 million of the bonds.
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