Chinese State Reduces Stake in Norwegian Air to 4.92%
November 24 2020 - 10:29AM
Dow Jones News
By Dominic Chopping
The Chinese state has further reduced its stake in Norwegian Air
Shuttle ASA after a company controlled by the country sold a block
of shares Tuesday.
BOC Aviation Ltd., a company ultimately controlled by the
Chinese state, earlier this year converted lease obligations into
shares in the airline that at the time represented 12.67% of the
company, as part of Norwegian Air's restructuring.
It has been selling down its stake since then and in a filing
Tuesday, Norwegian Air said BOC Aviation has sold a further 38.9
million shares. The sale leaves BOC Aviation with 182.1 million
shares, representing a 4.92% stake.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 24, 2020 10:14 ET (15:14 GMT)
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