Public offering of shares in Blue Lagoon Corp.
Blue Lagoon Corp. is an Icelandic public limited company engaged in the operation, development and marketing of health and wellbeing services. The Company specialises in operating world-class destinations built on design, quality, the unique characteristics of Icelandic nature and decades of experience. These include the Blue Lagoon, the world's most iconic lagoon; the Retreat, Silica Hotel and Highland Base Kerlingarfjöll; the Laugarvatn Fontana geothermal baths; and Blue Lagoon Skin Science, an international skincare brand based on decades of research and unique ingredients from the Blue Lagoon's geothermal seawater. Blue Lagoon Corp. has also entered into an agreement to acquire all shares in Arctic Adventures hf., a leading experience and adventure travel company. All conditions for the acquisition have been fulfilled, and Arctic Adventures will become part of the group before the end of November. Blue Lagoon Corp. is also undertaking extensive development in Thjórsárdalur, Iceland's valley of discovery, where the Mountain Baths, the Mountain Retreat and a Visitor Centre will be built, as well as developing the Glacier Baths and Glacier Retreat at Hoffell. In addition, Blue Lagoon Corp. holds stakes in selected destinations around Iceland: the Mývatn Nature Baths, Vök Baths in Egilsstaðir and GeoSea in Húsavík.
Key terms of the offering
- Subscriptions will be accepted on Landsbankinn's website, from 10:00 on Tuesday 10 November 2026 until 16:00 on Friday 13 November 2026.
- Each subscription in the public offering shall be from ISK 100,000 to ISK 20,000,000 in Order Book A and above ISK 20,000,000 in Order Book B.
- Investors may amend or withdraw their subscriptions during the offering period.
- The results of the offering are expected to be published no later than 16 November 2026.
- The due date and final due date for payment slips relating to the offering is 18 November 2026.
- The Company's shares are expected to be delivered to buyers no later than 20 November 2026.
- The Company's shares are expected to be admitted to trading on the Nasdaq Iceland Main Market on 20 November 2026.
| Order Book A | Order Book B | |
|---|---|---|
| Subscription amount | Subscriptions between ISK 100,000 - 20,000,000. | Subscriptions exceeding ISK 20,000,000. |
| Offer price | Fixed price of ISK 95 per share. | Offers shall match or exceed the minimum price of ISK 95 per share. The sale is at a fixed price, set as the lowest of approved offers. |
| Size of the offering | 45,000,000 shares (30% of the offering). | 105,000,000 shares (70% of the offering). |
| Allocation for over-subscription | Subscriptions in Order Book A will be reduced pro rata, with efforts mare to allocate in full subscriptions under ISK 1,000,000, and a flat reduction of the highest subscriptions if that is insufficient. Subscriptions by Blue Lagoon employees will not be reduced under ISK 5,000,000. | Subscriptions at or above the offering price in Order Book B will be accepted. However, if this part of the offering is oversubscribed, allocations will be reduced. In the event of reductions in Order Book B, subscriptions will be assessed based on price. Accordingly, subscriptions above the offering price in Order Book B will, where possible, not be reduced. Subscriptions at the offering price in Order Book B will be reduced pro rata, based on the amount subscribed at that price. All accepted offers will be allocated at the same price: the offering price in Order Book B. |
Blue Lagoon Corp. will host an open presentation at 10:00 GMT on Tuesday November 10, 2026, at Harpa. The presentation will also be streamed live, which is open to everyone and does not require registration. A live webcast will be available on Landsbankinn's website and on Blue Lagoon's website.
Landsbankinn hf. and Fossar Investment Bank hf. are managing the offering.
Further information
Further information on Blue Lagoon Corp., the Company's shares and the terms of the offering can be found in the Company's prospectus, dated 5 November 2026, and in the investor presentation. The prospectus and the investor presentation are available at landsbankinn.is/blaalonid.
Landsbankinn hf. and Fossar Investment Bank, managers of the offering, provide information and technical assistance:
Order Book A
Landsbankinn hf. Investment and Pension Services:
Tel: +354 410-4040
Email: bl@landsbankinn.is
Order Book B
Landsbankinn hf.:
Tel: +354 410-4040
Email: bl@landsbankinn.is
Fossar Investment Bank hf.
Tel: +354 522-4000
Email: bl@fossar.is
Advertisement. Please note that investing in shares involves risk. Potential investors are encouraged to read the company’s published prospectus, which has been approved by the Financial Supervisory Authority of the Central Bank of Iceland, before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. The approval of the prospectus should not be understood as an endorsement of the issuer or the securities offered or admitted to trading on a regulated market. The prospectus is available at blaalonidhf.is/fjarfestar and landsbankinn.is/blaalonid.
