The offer would increase its subscription to 770 million shares, and make up more than half the total amount wanted by Lighthouse Caledonia in its private placement offering.
Provided the investment is approved by the board of directors at the company's extraordinary general meeting on March 3 and the shares are subsequently listed around March 6, Northern Link would hold greater than 50 percent of the firm's outstanding shares, the company said.
It could then submit a bid for the purchase of the remaining shares in the company, as pursuant to the Norwegian Securities Trading Act, Section 6-1, the company said.
Northern
