The offering consists of 20,000,000,000 shares in the form of new shares in Icelandair Group. In the event of oversubscription, the company is authorised to increase the offering to a total of 23,000,000,000 shares. Warrants will be allocated with the new shares, equivalent of up to 25% of listed new shares in the offering.
Investors are offered two subscription options, Order Book A and Order Book B, which differ in terms of size of subscription and allocation. The offering price is ISK 1.0 per share and is the same in Order Books A and B. The minimum order size for Order Book A must exceed ISK 20 million in purchase value and the minimum order size for Order Book B is ISK 100,000 in purchase value.
The warrants grant the investor a right, without obligation, to purchase shares in Icelandair Group in three stages at an exercise price equivalent to the offering price (ISK 1.0 per share) plus 15% annual interest. Warrants are categorised as complex financial instruments and to ascertain whether investors have adequate knowledge and experience to understand the risks involved in warrants, they must complete an appropriateness test in the form of a questionnaire prior to registering their subscription in the online subscription system of the offering.
Note that investment in equities involves risk and that participation in the offering is binding. Prior to making a decision to invest in shares in the company, investors are encouraged to familiarise themselves with all information about Icelandair Group and the company’s prospectus, dated 8 September 2020, which has been approved by the Financial Supervisory Authority of the Central Bank of Iceland. The prospectus is available on the website of Icelandair Group, https://www.icelandairgroup.is/.
