March 21, 2018 / 4:48 AM / a month ago

Norwegian Air raises $168 mln in share issue at 10 pct discount

OSLO, March 21 (Reuters) - Norwegian Air has raised 1.3 billion Norwegian crowns ($168.20 million) in a share issue to strengthen its finances and pay for rapid expansion, and may raise a further 200 million crowns in a subsequent offering, the budget carrier said on Wednesday.

Shares were sold at 155 Norwegian crowns each, a 9.7 percent discount to the last traded share price in Oslo of 171.6 crowns.

The company late on Tuesday warned of a wider-than-expected first-quarter loss, and said it would raise cash amid higher oil prices and fluctuating currencies. ($1 = 7.7290 Norwegian crowns) (Reporting by Terje Solsvik; Editing by Biju Dwarakanath)

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