Atlantic Airways (RC, Faroe Islands Vágar) upper management launched the first phase of the Faroese government's planned nationalization of Atlantic Airways when it announced a voluntary public offer for shares in Atlantic Airways not already owned by the airline or the Ministry of Trade and Industry.
According to the terms of the buy back, the Offer Price for each share is ISK4403.28 (USD39.32).
"The Offer Price is 41.9% and 48.9%, respectively, above the closing prices on NASDAQ OMX Iceland and NASDAQ OMX Copenhagen of Atlantic Airways’ shares one trading day prior to 10 February 2014," a statement read.
The offer period runs from March 13 and expires on April 22, 2014.
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