Brief: Norske Skog: Trading Update And Contemplated Private Placement

Norske Skog ASA

13/01/2021 15:40

Jan 13 (Reuters) - Norske Skog ASA  NSKOG.OL :
    * TRADING UPDATE AND CONTEMPLATED PRIVATE PLACEMENT
    * GROUP'S PRELIMINARY EBITDA FOR Q4 2020 WAS APPROXIMATELY
NOK 110
MILLION WITH NO ADJUSTMENTS EXPECTED FOR QUARTER (Q4 2019 EBITDA
OF NOK 560 MILLION)
    * PRELIMINARY EBITDA FOR FULL YEAR 2020 WAS APPROXIMATELY
NOK 700
MILLION (FULL YEAR 2019 EBITDA OF NOK 1 938 MILLION)
    * PRELIMINARY CASH FLOW FROM OPERATIONS IN 2020 WAS
APPROXIMATELY
NOK 450 MILLION (2019 CASH FLOW FROM OPERATIONS OF NOK 602
MILLION
    * MAINTENANCE CAPEX IN 2020 WAS APPROXIMATELY NOK 200
MILLION
(2019 MAINTENANCE CAPEX OF NOK 254 MILLION)
    * GROUP EXPECTS TO RECOGNISE AN IMPAIRMENT CHARGE OF NOK
300-500
MILLION IN Q4 2020
    * TO CARRY OUT A PRIVATE PLACEMENT OF NEW AND EXISTING
SHARES IN
COMPANY
    * OFFER SHARES FOR UP TO NOK 400 MILLION ARE NEW SHARES TO
BE
ISSUED BY COMPANY IN CONNECTION WITH PRIVATE PLACEMENT
    * OFFER SHARES FOR UP TO NOK 400 MILLION ARE EXISTING SHARES
OFFERED BY COMPANY'S LARGEST SHAREHOLDER, NS NORWAY HOLDING AS

Source text for Eikon:  ID:nObiwK9zGa 
Further company coverage:  NSKOG.OL 

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