Sales and the cash shortage continue.
"(MT Newswires) – Nordic sports retailer XXL (XXL.OL) is looking to raise 500 million Norwegian kroner through a proposed underwritten rights issue, according to a Wednesday release.
The company plans to issue 1,250,001,065 new shares at 0.40 krone apiece, with the shareholders to receive 3.29403 subscription rights for each share held.
The planned rights issue is subject to the approval of shareholders at an extraordinary general meeting on Thursday.
XXL declined 2% on Wednesday’s close."