Finnair board yesterday approved a share offering worth €248.5 million ($365.9 million), with the subscription period beginning Nov. 29 and ending the afternoon of Dec. 17. Current shareholders will have a preemptive right to subscribe in proportion to their holdings. The company will issue 39.4 million shares at €6.30 per share. Finnair said it will use the proceeds to fund aircraft acquisition and "related investment that enable the realization of the company's growth strategy." FL Group, which holds around 24% of Finnair, said it will participate in the offering. The government holds 55.78%.

Source: ATW dated of 22 November 2007