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Magnora Unit Raises NOK650 Million via Share Placement

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Magnora (MGN.OL) unit Magnora Data Center raised 650 million Norwegian kroner by conditionally placing 50 million shares at 13 kroner per share, according to a Tuesday release.

Under the oversubscribed private placement, the data center operator also subscribed for 100 million kroner of Magnora Data Center shares. The placement remains subject to shareholder approval at an extraordinary general meeting to be held on Wednesday.

Magnora plans to use the proceeds to fund data center projects and operations, and for general corporate purposes.

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