Update 17:30: By emailing its customers Wednesday afternoon, Arctic Securities reports that sales have been completed right now .. Just how much the stock sale ended was not known.
Arctic Securities was hired by an investor to examine the opportunities to sell up to 7.8 million shares in Norwegian Finance Holdings, known as the Norwegian Bank.
This was reflected in the TASE announcement on Wednesday afternoon.
Based on Wednesday's closing price on the stock, it will involve a sale in the amount of NOK 570.96 million, but the amount will vary depending on the price you can obtain.
The share price amounts to 4.2% of the Company's total shares.
It does not appear who the shareholder. However, there are not so many alternatives as it is only Norwegian (airline), Folketrygdfondet and Fortelus hedge fund, which has so many shares in the Norwegian bank. The latter offered a double list of shares in London, which must be voted at the annual general meeting in December.
– We do not know that. We have not sold NOFI shares, says communications manager Lasse Sandaker-Nielsen in Norwegian (airline) on whether they are now selling shares.
An accelerated process will be initiated for the construction of books, which will begin immediately, and will end at noon on November 15 at 8:00.
The Norwegian airline last year sold to Norogyan Bank in two rounds. From 20% to 17.5% in June, and then to 16.4% in December. However, the company has kept 20 percent of financial exposure through share lease agreements (the so-called TRS agreements).
Seller will not sell for more than three months at least
In the sale offer issued by Arctic Securities, it seems that the "financial investor" who sees the sale of shares has taken on the remaining shares, which means you will sit on the balance of shares at least three months after the sale.
In principle, there is a subscription to shares at least в,¬ 100 thousand (961 thousand kroner), and the proposal is designed for both professional and non-professional investors.
The brokerage house notes the sale offer that the Norwegian bank nearly doubled over the past two years, equity increased by 140 percent in one year and the stock price fell 23 percent in the same period.
– A very interesting risk return relationship here, writes the brokerage house to its customers.
The share of the Norwegian bank won a strong competition when the company presented its results for the third quarter of October 30, and the price continued later. Management at the Bank is open to the fact that competition in the consumer credit market has increased.