April 29, 2020 / 6:18 AM / a month ago

BRIEF-Finnair Is Planning For Rights Offering Due To COVID-19 Impact

April 29 (Reuters) - Finnair Plc:

* FINNAIR IS PLANNING FOR AN APPROXIMATELY 500-MILLION-EURO RIGHTS OFFERING DUE TO THE COVID-19 IMPACT

* COMMENCES PREPARATIONS FOR A RIGHTS OFFERING (‘ OFFERING’) DUE TO LOSSES CAUSED BY CORONAVIRUS SITUATION,

* AMOUNT OF OFFERING WOULD TOTAL UP TO APPROXIMATELY 500 MILLION EUROS.

* FINNISH GOVERNMENT’S MINISTERIAL COMMITTEE ON ECONOMIC POLICY HAS SUPPORTED THAT A SUPPLEMENTARY BUDGET, IS PROPOSED TO FINNISH PARLIAMENT

* STATE OF FINLAND CURRENTLY HOLDS 55.8% OF SHARES AND VOTES IN FINNAIR PLC.

* AUTHORISATION FOR OFFERING WILL BE SOUGHT FOR IN ANNUAL GENERAL MEETING 2020, Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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