FL Group takes big loss as it dumps half its Finnair stock
Finnair said FL Group, the second-largest shareholder in the carrier behind the Finnish government, reduced its stake to 12.7% from 24.4% by selling 15 million shares.
The Icelandic investor said the move "is in line with FL Group's strategy to lower exposure to the aviation sector" and would result in a ISK2.8 billion ($44.4 million) loss. FLG said it remains the second-largest shareholder and "continues to support Finnair's ambitious growth strategy."
Separately, Finnair said approximately 5,300 investors participated in the €248.5 million ($357.9 million) share offering that concluded Dec. 17 (ATWOnline, Nov. 22) and 99.6% of the 39.2 million shares were subscribed for. It said the joint global coordinators of the sale will "seek to procure purchasers" for the remaining shares "as soon as practicable" and that it soon will announce the final results of the issue. Atwonline
Finnair said FL Group, the second-largest shareholder in the carrier behind the Finnish government, reduced its stake to 12.7% from 24.4% by selling 15 million shares.
The Icelandic investor said the move "is in line with FL Group's strategy to lower exposure to the aviation sector" and would result in a ISK2.8 billion ($44.4 million) loss. FLG said it remains the second-largest shareholder and "continues to support Finnair's ambitious growth strategy."
Separately, Finnair said approximately 5,300 investors participated in the €248.5 million ($357.9 million) share offering that concluded Dec. 17 (ATWOnline, Nov. 22) and 99.6% of the 39.2 million shares were subscribed for. It said the joint global coordinators of the sale will "seek to procure purchasers" for the remaining shares "as soon as practicable" and that it soon will announce the final results of the issue. Atwonline