Norwegian shares plummeted more than 9% in the first stages of the session after announcing that it has captured 2.5 billion Norwegian crowns (about 246.5 million euros) through a private placement of 27.25 million new shares and an issue of convertible bonds for 150 million dollars (135 million euros).
Specifically, the airline’s titles fell by 9.23% close to 9.30 am, to 41.85 Norwegian crowns, above the price at which the private placement was made (40 Norwegian crowns)
Both the private placement and the issuance of convertible bonds were overwritten, as reported by the company.
Following these operations, the Norwegian airline is «fully funded» until after the end of 2020, in accordance with the provisions of the current business plan.
Specifically, Norwegian has explained that the income from private placement and the issuance of convertible bonds ensures the necessary working capital for the winter season and creates a «loose» margin for your financial obligations while completing your program. transformation.