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Vistin Pharma closes private placement

Oslo's Vistin Pharma ASA closed a private placement of 26,785,715 new shares, priced 11.20 Norwegian kroner each.

The company, which produces active pharmaceutical ingredients, raised gross proceeds of 300 million kroner through the offering.

Vistin Pharma plans to use net proceeds to establish a new business area within energy trading.

As previously announced, the company's board will not propose a dividend to be paid since the placement was completed.

DNB Bank ASA's DNB Markets acted as manager for the private placement.

As of March 22, US$1 was equivalent to 7.73 Norwegian kroner.