Norse Atlantic Airways (N0, Oslo Gardermoen) has completed the raising of NOK1.02 billion Norwegian krone (USD103.8 million) through the issuance of new shares. Of the total 2.04 billion new shares, 1.6 billion was allocated to investors who acquired subscription rights in the recent round, and the remainder went to pre-committing investors. The airline also said that 96% of the holders of its 2025/2027 USD30 million bond agreed to convert their holdings into new shares. The issuance of bond conversion shares, as well as underwriting commission shares and new CEO shares, is expected to conclude on June 30.

As a result of the transactions, the shareholding of Arne Blystad and his companies will increase from 8.7% to 12.3%. Geveran Trading will become a new major shareholder with a 7.1% stake.