Flyr completes NOK600 million private placement

Flyr has completed its private placement and has succeeded in raising gross proceeds of NOK 600 million through the allocation of 120,000,000 new shares at a price of NOK 5 per share. The new airline company stated that its private placement “attracted strong interest from Norwegian, Nordic and international high-quality institutional investors and was multiple times oversubscribed”. Four cornerstone investors were allocated shares for NOK 165 million: Nordea Investment Management NOK 60 million; Tycoon Industrier AS NOK 50 million; Sissener AS NOK 30m; and Apollo Asset Limited NOK 25 million. Flyr intends to use the net proceeds from the primary offering to