Norwegian Air says share issue oversubscribed

Norwegian Air's deeply discounted 400 million crowns ($39 million) share issue, part of the company's financial rescue plan, has now been oversubscribed by investors, the budget carrier said on Thursday.

The airline's new shares are sold at just 1 crown each, 76% below Wednesday's closing price of 4.16 crowns.

($1 = 10.2562 Norwegian crowns)