March 25, 2020 / 3:31 PM / 12 days ago

Norwegian Air shares soar as top owner seeks return of lent-out shares

FILE PHOTO: A Norwegian Air plane is refuelled at Oslo Gardermoen airport, Norway, November 7, 2019. REUTERS/Lefteris Karagiannopoulos/File Photo

OSLO (Reuters) - Norwegian Air’s (NWC.OL) shares soared 35% on Wednesday when the company’s founder and top owner demanded that short-sellers of the stock should return shares that his private firm had lent out.

“HBK Holding AS (HBK) has decided to request redelivery to HBK of the shares in Norwegian Air Shuttle ASA currently having been lent in the market by HBK,” the company of Norwegian Air’s founder and former chief executive, Bjoern Kjos, said.

Norwegian Air’s former chairman, Bjoern Kise, is also a shareholder in HBK, which holds just under 10% of the airline’s stock.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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