Norwegian collects money by issueing new shares

Posted by in airlines

Norwegian, in a effort to collect money, issues new shares to a value of up to 260 million Norwegian crowns.
The airline Norwegian will issue up to 1.62 million shares, reports the news agency Direkt according to DI. That represents about 5 percent of outstanding shares, at a value of between about 250 and 260 million Norwegian crowns according to the current exchange rate.

Norwegian’s CEO Björn Kos and chairman Björn Kises HBK Investcorp company will offer up to 970 000 shares. Thereby reducing its holding company by 3 percent to 29.35 percent.

The proceeds will strengthen the airline’s balance sheet and position the company better for future growth.

-“The company is now large and I find it natural to open up to new investors, both Norwegian and international” said Björn Kjos.