It's tough to say if they'll dilute at these levels since the SP is so low. From what I've read on the situation, John Fredriksen will stand by the Company. Although, this may require an equity or loan infusion from him. Still, it would go a long ways to securing its future.
I don't think he will let FRO fall into bankruptcy. He holds large stakes in numerous companies and it would definitely hurt his reputation.
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