Equity injection into Scandinavian operation

Following the recently completed private placement in Ice Group ASA (see announcements dated 31 January and 1 and 11 February 2019), NOK 700 million of equity has been injected into Ice Group Scandinavia Holdings AS.

The funds will be used for the planned network build-out in Norway and to expand the customer base further.

Ice Group Scandinavia Holdings AS is a 99.83%-owned subsidiary company of Ice Group ASA.

About Ice Group ASA
Ice Group is a Scandinavian telecommunications company with nationwide networks within each of its territories. In Norway, the company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers. Its Norwegian business was the fastest growing mobile network operator in Europe in 2017. Ice Group also offers mobile broadband, m2m and IoT services in Sweden and Denmark through its own network. For more information, see www.icegroup.com.