March 17 - Oslo-listed heavy lift shipping line Fairstar has brought in NOK 54.97m (USD8.07m) from two rights issue of up to 10,000,000 new shares at subscription price NOK 5.0, of which 5,340,000 was underwritten by a syndicate of the Company's current s
A directed issue of up to 4,166,667 new shares at subscription price NOK 6.0, of which 3,833,333 was underwritten by a syndicate of the Company's current bond holders.
The subscription period ended on Monday 16 March 2009. The subscription result shows that 6,022,882 shares have been subscribed for in the rights issue and that the directed issue was oversubscribed. As a result 6,022,882 shares will be issued in relation to the rights issue and 4,166,665 shares will be issued in relation to the directed issue.
A total of 10,189,547 new shares will be issued in the offering.
Allocation of new shares is expected on or about 17 March 2009, with payment for the allocated shares on or about 18 March 2009.
