The Norwegian and Swedish government is starting the sale of up to 19 million shares in the airline SAS, corresponding to 5.8 percent of the outstanding shares.

The Norwegian Industry and Fisheries Ministry is to oversee the sale on behalf of the Norwegian and Swedish governments, said the Swedish government in a statement Wednesday night.

The sale is aimed at institutional investors and conducted through a so-called accelerated auction.

“We have no comment for this press release now,” says Communications Boss Trond Viken from the Industry and Fisheries Ministry to the news agency NTB.

According to the Swedish government, they are talking about so-called common stock, often referred to as A shares.

The smallest purchases are to be a number of shares corresponding to 100,000 Swedish kroner.

The sale started immediately after the press release was published on Wednesday night.

The pricing and allocation of sales will happen in SEK and delivery of shares registered in the Swedish Euroclear system is expected to take place on Friday the 17th of October.