Cimber Sterling Airline has announced that they have sold all subscriptions for the 27′500′000 new shares that were offered. More shares will now be offered and the final offer price will be determined on Monday.
The cash raised is planned to expand the airline from a current fleet of 25 to as many as 40. Cimber Sterling which has it’s HQ in Denmark operates a fleet of Boeing 737 jets plus ATR and CRJ turboprop. A year ago then family owned Cimber Air announced plans to acquire parts of the bankrupt airline Sterling (also Danish) but Cimber was slow to get operations underway compared to rival low cost airlines Norwegian and Transavia who didn’t waste any time setting up bases in Copenhagen.
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November 30th, 2009 at 9:30 am
News Today – - – Danish budget airline Cimber Sterling said on Monday that it priced its fully subscriped initial public offering of stock at 10 crowns per share and would raise 275 million DKK ($55.17 million)