Opera sells 10 mln new shares at NOK 80 each

OSLO, June 27 Fri Jun 27, 2014 2:09am EDT

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OSLO, June 27 (Reuters) - Norwegian IT firm Opera Software completed the private placement of 10 million new shares at a price of 80 crowns per share, a 4.25 percent discount to its last close, raising 800 million crowns, it said on Friday.

The funds in the placement, which equal 7.5 percent of the firm's share capital, will be used for current and future strategic acquisitions and to meet its earn-out obligations in connection with its recent acquisition of AdColony.

Opera shares closed at 83.40 on Thursday. (Reporting by Balazs Koranyi)

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