On the 12th of October, Sweden and Norway announced the sale of up to 19 million ordinary shares in Scandinavian Airlines System (SAS), corresponding to approximately 5.8% of the total number of ordinary shares in the company. The transaction will be carried out pro rata in proportion to the respective state’s current holding in SAS.

The transaction is structured as an accelerated bookbuild offering to institutional investors. The minimum order and allocation has been set to the number of shares that equals an aggregate purchase price of the SEK equivalent of EUR 100,000.

Both Sweden and Norway consider that long term, SAS will benefit from a changed ownership structure that would entail a reduced state ownership. The Transaction is a first step in a gradual and responsible divestment of Sweden’s and Norway’s ownership in SAS.