Dagens Naeringsliv writes that Jens Ulltveit-Moe, a famous Norwegian investor and former Chairman of Petroleum Geo-Services (OSE: PGS) has become the largest private shareholder in Renewable Energy Corporation (OSE: REC). Ulltveit-Moe told DN that he has bought further 100 million worth of shares in REC this week on top of his previously acquired 1.42% ownership to reach 2% of total shares.
Renewable Energy Corporation was up 35% for the rest of the week after releasing its interim report this Tuesday. Some of that advance should be as a result of short covering. Norway's Trade Minister Trond Giske is to hold an emergency meeting with local municipalities in connection with REC’s plans of shutdowns in Norway. Ulltveit-Moe tends to agree with the opinion that REC’s production has no future in Norway.
No comments:
Post a Comment