Ice Group set to invest NOK500m in Norwegian network

15 Oct 2019

Following the completion of a NOK900 million (USD99 million) unsecured bond issue last month, Ice Group ASA has announced that NOK500 million of equity has been injected into its wholly owned subsidiary Ice Group Scandinavia Holdings. In a press release regarding the matter, Ice Group said that these funds will be used to finance ‘further growth and network build-out in Norway’.

Upon competition of the bond issue last month, Ice Group CEO Eivind Helgaker had noted: ‘Given the significant progress demonstrated in the past nine months, we felt now was a good time to raise additional funds. The proceeds provide us with added financial flexibility as we continue to build out the third nationwide smartphone network and challenge the incumbent operators in Norway.’

Norway, ice, Ice Group (formerly AINMT)