Play proposes new stake for equity contribution

Play – the relaunched WOW Air – is reported to be having difficulties raising funds from private investors and has proposed a 70% stake instead of 50% for equity investors. Play founders and Iceland Securities (ÍV) lowered the company’s share to 30% after feedback from investors. According to its Facebook page, Play had hoped to begin selling tickets at the start of December but it said “As we are a start-up company, things can sometimes take a little longer than planned as there are many tasks to finalise. Our original plan was to start selling tickets in November, but unfortunately, we