Landsbankinn Corporate Finance acted as an independent financial advisor to the Icelandic government and supervised the marketed public offering of the State’s remaining shareholding in Íslandsbanki, a sizeable and well-organised project that garnered significant attention from investors.
Investors showed a great deal of interest in the offering, resulting in a total demand of ISK 190 billion. It was especially good to see the level of public interest and participation. In the PO, 850,000,007 shares were sold at ISK 106.56 per share for a total amount of ISK 90.6 billion. This is the largest share offering ever held in Iceland.
Special emphasis was placed on ensuring widespread participation by general investors. Subscriptions in Offer Book A, only open to private individuals, amounted to ISK 88.2 billion from just over 31,000 people. This marks a milestone in public participation in a PO.
The aim was also to reach large institutional investors from among regulated entities through offers submitted in Offer Books B and C.
Landsbankinn congratulates the Ministry of Finance and Economic Affairs on a successful PO and thanks the Ministry for a good and productive collaboration.
