The last public bearer in SAS has disappeared while the troubled airline's stock climbs for the fourth day in a row.
According to the Swedish Financial Supervisory Authority's short sale register on Friday, Millennium Capital Partners no longer has a public short position in SAS, i.e. at least 0.5 percent of the shares. This means that the last public short position has disappeared and the collective item "anonymous" remains, which is short in total corresponding to 1.6 percent of the SAS shares.
When it became clear in the middle of last week that SAS would receive a total of SEK 13 billion in exit financing from a bidding consortium including Air France-KLM and the Danish state, a total of 428 million SAS shares were shorted. On Friday, that number had shrunk to 115 million shares.
After the announcement last week of SAS's rescue plan, the already hard-pressed stock collapsed from 30 öre to as low as 1 öre. On Friday, it is listed at around 7 öre after rising sharply over the past five days.
In connection with the announcement of the rescue plan, SAS announced that there is no expected value remaining for existing shareholders in SAS after the plan is implemented. The share is planned to be delisted in the second quarter of 2024.
Earlier this week, it was reported that investment company Apollo, which backed the bid for the airline SAS, is trying to prevent the deal from going through by stopping a payment from SAS to the winning bidders. Late Thursday, Norwegian E24 reported that the parties had reached a compromise and that the payment had been postponed to a later date.
Source: Dagens Industri
