JPMorgan Chase crosses 5 percent share capital threshold in Norwegian Air

JPMorgan Chase now has a notifiable interest in share capital of Norwegian Air Shuttle, following a stock borrowing by its subsidiary, JP Morgan Securities.

JPMC now holds 5.16% of issued share capital and voting rights in Norwegian, as of 12 April 2018.

International Airlines Group (IAG) also recently hired JPMorgan to secure financing for a possible acquisition of Norwegian, after it bought a 4.6% stake in the Nordic carrier. IAG total will pay 4.4 billion euros (NOK 42 billion), where NOK 14.4 billion will be for equity.

Norwegian is worth about NOK 11.9 billion on the Oslo Stock Exchange.

Norwegian founder and chief executive, Bjørn Kjos, says he won’t sell. He owns a 27% stake in the carrier.