HBK Holdin, controlled by former CEO Bjørn Kjos and chairman Bjørn Kise, has decided to recall the shares in Norwegian Air that have been lent to the market, according to a press release.

Norwegian The stock traded around zero before the announcement on Wednesday, but rose by nearly 20 percent shortly after the announcement.

The shares that have been lent to the market have most likely been intended for short selling, i.e. bets that the share price will fall, which may explain the price movement.

Source: Direct News Agency