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The airline’s rescue plan goes one step further after much interest in the matter.
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A preliminary count shows Norwegian has received orders for 2.8 billion new shares in connection with the share issue, according to the company.
With the issuance of up to 400 million new shares, this means that the issue of shares has been oversubscribed seven times.
The deadline to subscribe to the rights issue expired at the close of the stock market on Thursday afternoon.
Norwegian plans to announce the final result of the issuance and distribution of the new shares no later than Friday. The shares are expected to be delivered to investors early next week.
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Leasing companies will convert at least SEK 8,560 million into shares
Management wants actions
Earlier this week, it was announced that CEO Jacob Schram, CFO Geir Karlsen and President Niels Smedegaard had requested to subscribe in connection with the share issue.
Schram requested to subscribe for NOK 700,000, while Karlsen wanted shares for NOK 500,000. Smedegaard, in turn, requested to subscribe for shares valued at NOK 100,000.
Hoping to contribute to rights, Schram kept his promise in late April that he would contribute his own money to the company.
– 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.
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Norwegian approaches destination: boss vows to put his own money on airline
Leasing companies convert more
On Thursday morning, Norwegian stated that the leasing companies agreed to convert at least $ 840 million, corresponding to NOK 8.56 billion, from debt to equity.
According to the company, a “significant number” of leasing companies support the conversion of debt into shares.
Previously, Norwegian had obtained support to convert $ 730 million in lease debt into shares.
At the same time, the company stated that talks with other leasing companies would continue in an attempt to include them in the conversion.
On Monday, he will again be ready for the bondholder meeting at the airline. There, the bondholders on NAS07 will vote on the debt conversion agreement. CFO Geir Karlsen announced last week that they hope this will be a formality.
Read the Norwegian’s message here
Earlier:
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