DNB's 7.04% Ezra stake buy likely just a share pledge: analysts
Ezra's statements may be based on Frontica of Norway executing sale and repurchase deals with bank
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Singapore
A MYSTERIOUS S$25 million sale of a 7.04 per cent stake in offshore services firm Ezra Holdings to Norway's biggest bank last week was likely to do with a substantial shareholder pledging its stake to DNB Bank as collateral for financing, analysts say.
That scenario would imply status quo for Ezra's slate of substantial shareholders, rather than a change of control that would have catapulted DNB into the position of second-biggest stock owner after group chief executive officer Lionel Lee.
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