Norwegian government to sell entire stake in Norwegian (Air Shuttle)

In a stock exchange announcement issued Tuesday afternoon, shortly after the close of trading on the Oslo Stock Exchange, the Norwegian government revealed its intention to divest its entire stake in airline Norwegian Air Shuttle.

The government is considering selling up to 65,582,436 shares in the airline. At the close of trading, each share was priced at 14.06 Norwegian kroner, which would value the government’s total holding at approximately 922 million kroner (about €81 million or $88 million at current exchange rates).

“If demand and pricing are satisfactory, the seller will proceed with the sale of all its shares in Norwegian,” the announcement stated.

The Norwegian state, represented by the Ministry of Trade, Industry and Fisheries, is currently one of the largest shareholders in the airline. It became a shareholder in mid-May, acquiring a 6.37% stake in the company.

The largest shareholder in Norwegian is currently Geveran Trading Company Ltd., owned by shipping magnate John Fredriksen, which holds 14.53% of the shares. The Norwegian Government Pension Fund (Folketrygdfondet) also has a significant stake, owning 8.72% of the airline.

This article is based on a report published by Norwegian financial newspaper E24.