PLAY (Iceland) (OG, Reykjavik Keflavik) has raised ISK 2.4 billion Icelandic króna (USD20 million) via convertible bonds priced at 17.5% after two executives withdrew their offer to acquire all shares in the company and delist it from Nasdaq Iceland.

BBL 212 hf., the investment newco of chief executive officer, Einar Örn Ólafsson, and board vice-chairperson, Elías Skúli Skúlason, withdrew its takeover bid over shareholders’ opposition to the delisting of the carrier. The two executives, who proposed to…

Source: ch aviation
Read more: Iceland's PLAY raises mn after execs drop takeover bid