Norse Atlantic Airways begins share placement

Norse Atlantic Airways, the new, Norwegian start-up airline, has confirmed that Bjorn Tore Larsen, Norse’s CEO, will subscribe for stock worth the equivalent of $10 million, while $64 million has been allocated to Handelsbanken, DNB Asset Management and Nordea Investment Management. Following the private sale at 20 kroner a share, the airline plans to list on the Oslo Stock Exchange in mid-April. Arctic Securities, Pareto Securities and SpareBank 1 Markets have been appointed to manage the placement. Proceeds from the share sale will provide working capital and fund lease deposits on up to 12 (depending on how the sale goes) ex-Norwegian 787s. Norse is looking