May 7, 2020 / 7:04 AM / 24 days ago

Norwegian Air says share issue oversubscribed

OSLO, May 7 (Reuters) - Norwegian Air’s deeply discounted 400 million crowns ($39 million) share issue, part of the company’s financial rescue plan, has now been oversubscribed by investors, the budget carrier said on Thursday.

The airline’s new shares are sold at just 1 crown each, 76% below Wednesday’s closing price of 4.16 crowns.

$1 = 10.2562 Norwegian crowns Reporting by Terje Solsvik; Editing by Victoria Klesty

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