Norwegian Air says share issue oversubscribed

Business

Norwegian Air’s (NWC.OL) 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.