Norwegian Air calls off additional share sale
OSLO (Reuters) - Norwegian Air <NWC.OL> has called off plans for a so-called repair offering of shares as the market price has dropped below the level at which the budget carrier sold new equity late last year, it said on Tuesday.
Taking part in a repair offering would have allowed small shareholders, who were not invited to invest in the company's main offering in November, to maintain an unchanged stake in the firm.
But since the share price has since dropped below the 40 Norwegian crowns offer price, investors can instead buy shares at a cheaper price via the stock market.
Norwegian traded at 35.86 crowns on Tuesday, up 2.4% for the day.
(Reporting by Terje Solsvik, editing by Gwladys Fouche)