Viking Supply Ships has successfully completed a rights issue that is expected to keep the company afloat for the next few years.
A little more than 78% of the offered shares were sold during the tender, while the remaining shares will be assigned to main shareholder Kistefos.
Viking said it will receive around SEK 207m ($22.1m) from the rights issue, which will result in an increase of the company’s share capital from SEK 177.4m to SEK 370.1m.
The new shares will start trading on the Stockholm Stock Exchange early next year.
Viking has been working on its restructuring for many months.
Its refinancing plan was conditional on the issue that was completed today.
The company has also appointed Trond Myklebust as its new chief executive and has set its sights on Russian business through a new cooperation with Sevnor.
It trimmed its red ink for the third quarter from SEK 282m to SEK 93m.
