SAS sets share price for rights issue

SAS has set its USD695 million rights issue at a discounted price of SEK0.67 (USD0.09) per share (Reuters, 06-Apr-2010). Shareholders are entitled to three subscription rights per share owned. The record date is 12-Apr-2010 and the subscription period runs from 15-Apr-2010 to 29-Apr-2010. The airline called on its shareholders in Feb-2010 to inject the sum in order to proceed with its cost-savings plan, and all three government shareholders announced they would support the issue.