Norse Atlantic Airways (N0, Oslo Gardermoen) has cancelled the potential offering of an additional 12,092,853 shares, which would have raised up to NOK93 million Norwegian kroner (USD9.2 million). The offering was originally proposed as a means for existing shareholders to buy up and avoid their share dilution after a recent NOK113.7 million (USD11.2 million) new share issuance. However, the airline said that since its stock price is now below the subscription price, "any existing shareholder seeking to reduce the dilutive effect of the private placement has had sufficient opportunity to purchase shares in the market."