Norwegian will hold an EGM on 4 May and proposes several initiatives: a NOK 400m private placement, conversion of all or parts of its bond/lease debt and authorization to issue new shares and convertible loans. The current market cap of NOK 1.4bn compares to the nominal bond and lease debt of NOK 44.5bn and a potential dilution will be significant. We suspend our Hold recommendation as the outcome is uncertain and Covid-19 and lower GDP prospects add risk.
09 Apr 2020
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Norwegian Air Shuttle ASA (NWC:FRA) | 0 0 0.0%
- Published:
09 Apr 2020 -
Author:
Axel Jacobsen -
Pages:
13
Norwegian will hold an EGM on 4 May and proposes several initiatives: a NOK 400m private placement, conversion of all or parts of its bond/lease debt and authorization to issue new shares and convertible loans. The current market cap of NOK 1.4bn compares to the nominal bond and lease debt of NOK 44.5bn and a potential dilution will be significant. We suspend our Hold recommendation as the outcome is uncertain and Covid-19 and lower GDP prospects add risk.