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The issue of shares, which will raise up to NOK 400 million, is nearing completion. Now management has also asked to be allowed to contribute to the “New Norwegian”.
Published:,
Norway’s two top executives, Jacob Schram and Geir Karlsen, as well as President Niels Smedegaard, have requested to subscribe for shares totaling NOK 1.3 million in the ongoing capital raising.
Norwegian reports this in a statement Tuesday morning.
It will probably end on Thursday
The update indicates that the topic has received great interest from both existing shareholders and other investors, as well as “high-quality institutional investors”. The offer has now been “underwritten” multiple times, and the order book consists of more than 12,500 orders, according to the company.
- Chief Executive Jacob Schram has requested to subscribe for shares for NOK 700,000.
- CFO Geir Karlsen has requested to subscribe for shares for NOK 500,000.
- President Niels Smedegaard has requested to subscribe for shares for NOK 100,000.
Read on E24 + (for subscribers)
How to master the unusual Norwegian problem
Private placement provides an opportunity to purchase new shares for NOK 1 in the company. The issue of shares is not a matter of rights, where all shareholders receive subscription rights and the opportunity to maintain their stake in the company.
The issue of shares ranges from NOK 300-400 million, depending on the subscription price of NOK 1.
The subscription period for the issuance of rights will end no later than the end of the trading day on Thursday afternoon.
Schram keeps the promise
Hoping to contribute to the share issue, Schram keeps his promise in late April that he would contribute his own money to the company himself.
– Yes, I want that. Now I cannot do it because I am in the internal list and “I know too much” given the position I have. That is why I am not allowed to buy shares, Schram told E24 at the time.
– But when you can do it according to the rules, then you want to do it?
– Yes, I would definitely invest in the company.
