Norse Atlantic attracts about 70% take-up from latest share issue

Norse Atlantic Airways has received subscriptions for about 70% of the shares offered in its latest stock issue. The issue had covered up to 9.1m shares. Preliminary indications, following closure of the subscription period on 24 January, show that just over 6.3m shares have been taken up. The offer price of NKr11 points to a total subscription value of NKr69.4m ($6.65m). Norse Atlantic had initiated the offering – which could have raised up to NKr100m – to limit the dilutive effect of an earlier private placement of shares. It intends to use the proceeds to improve liquidity over the course of the winter season.<br/>