Noreco takes Nkr430m private placement before restructuring

By Nina Flitman
24 Oct 2013

Norwegian Energy Company (Noreco) raised Nkr430m ($72.9m) in a highly dilutive private placement this week as the beleaguered firm restructures its entire capital structure.

The amount raised, at Nkr0.10 a share, was at the top of the Nkr400m to Nkr430m range that the company had announced when the deal was launched on Monday. Noreco will now undertake a subsequent offering of up to 1bn new shares at Nkr0.10 a share, raising up ...

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