Final results of Finnair’s rights offering

According to the final results of Finnair Plc’s (“Finnair” or the “Company”) rights offering (the “Offering”), a total of 1,416,635,293 new shares (the “Offer Shares”) were subscribed for in the Offering, corresponding to approximately 110.7 per cent of the Offer Shares, and the Offering was oversubscribed. A total of 1,253,946,070 OfferShares were subscribed for pursuant to the exercise of subscription rights. The remaining 25,319,080 Offer Shares subscribed for without subscription rights were allocated in the secondary subscription in accordance with the terms and conditions of the Offering. The subscription price was EUR 0.40 per Offer Share. Finnair receives gross proceeds of approximately EUR 512 million from the Offering.

Finnair’s Board of Directors has today approved the subscriptions made in the Offering and the allocation of the Offer Shares in accordance with the terms and conditions of the Offering.  As a result of the Offering, the total number of shares in the Company will increase by 1,279,265,150 shares from 128,136,115 shares to 1,407,401,265 shares. As a result of the Offering, the Company will receive net proceeds of approximately EUR 501 million taking into account transaction costs in connection with the Offering.

The Offer Shares will be registered with the Finnish Trade Register on or about 8 July, 2020. The last day of trading with interim shares representing the Offer Shares (the “Interim Shares”) is on or about 8 July, 2020. The Interim Shares will be combined with the Company’s existing shares on or about 9 July 2020. Trading with the Offer Shares is expected to commence on Nasdaq Helsinki Ltd on or about 9 July 2020.

The Offer Shares will entitle their holders to possible dividend and other distribution of funds, if any, and to other shareholder rights in the Company after they have been registered with the Finnish Trade Register and recorded in the Company’s shareholder register maintained by Euroclear Finland Oy, on or about 9 July 2020.

Citigroup Global Markets Limited and Nordea Bank Abp act as the joint global coordinators, joint bookrunners and joint lead managers for the Offering (together, the “Joint Global Coordinators”) and OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ) Helsinki Branch and Swedbank AB (publ) (in cooperation with Kepler Cheuvreux S.A.) act as the co-lead managers for the Offering (together with the Joint Global Coordinators, the “Managers”). Roschier, Attorneys Ltd. acts as the Company’s legal adviser and White & Case LLP acts as the Managers’ legal adviser in the Offering.