Kvaerner proposes share issue

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NORWAY - Anglo-Norwegian engineering group, Kvaerner, has proposed a share issue of NOK 1.5bn-NOK 2bn, following consultation with its largest shareholders and lenders, including the NOK11.7bn state pension fund (Folketrygdfondet).

So far the group has clinched NOK 900m in short-term liquidity from its major banks and biggest equity holders – Aker Maritime and Folketrygdfondet. The aim is to secure short-term liquidity and...

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