According to ehandel.se and as mentioned by SGI Europe earlier, Norwegian sporting goods chain XXL is looking to fill its coffers with 500 million Norwegian kroner (€43.2m) through a fully guaranteed new share issue after losses of nearly NOK 600 million (€51.9m) this year. Accordingly, the company is proposing a subscription price of NOK 0.40 per share, which would represent a discount of 39.2 percent. The new issue is guaranteed by its largest owner Altor, but must first be approved by an extraordinary general meeting. In addition to raising new capital, the sports retail chain is also renegotiating loans. It has also received an extended tax deferral for its subsidiary in Sweden. Meanwhile, in Norway, the situation has become even tighter for the company. The company suffered a 139 million tax loss after tax authorities increased the company’s taxable income between 2015 and 2018.

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