Listing and public offering of shares in Iceland Seafood International

A public offering of new shares in Iceland Seafood International hf. (“Iceland Seafood“) was completed at 16:00 GMT on 18 October 2019. The offering consisted of 225,000,000 new shares in Iceland Seafood.

A total of 149 subscriptions for a total value of ISK 2,995 million were received in the offering and Iceland Seafood‘s board of directors has decided to accept offers for 225,000,000 shares for a total purchase value of ISK 2,138 million. 20,259 thousand shares in the company will be sold to investors in orderbook A and 204,741 thousand shares to investors in orderbook B. The final offering price in both orderbooks is ISK 9,50 per share. 

In orderbook A, where investors subscribed for shares at a minimum price of 9.4 and a maximum price of 9.82 per share for a total purchase value of ISK 100,000-10,000,000, the final offering price is ISK 9.50 per share.

In orderbook B, investors subscribed for shares at a minimum price of 9.4 for a total purchase value of ISK 10,000,001 or higher. The result of the offering is a final offering price in orderbook B of ISK 9.50 per share. Investors who specified a lower maximum price in their subscription will not receive an allocation in orderbook B, otherwise reductions of allocation at the final offering price were proportional.

Final offering price Total purchase price Shares
Orderbook A 9.50 192,460,000 20,258,947
Orderbook B 9.50

1.945,039,999

204,741,053

Total 9.50 2,137,499,999 225,000,000

Access allocation

Investors can access information on their individual allocation in the by choosing „access allocation“ below, using the same access ID used to register their subscriptions.  The final due date of payment for shares in the offering is 25 October 2019 at 21:00 GMT and all paid shares will be distributed after the end of trading on 28 October 2019.

Nasdaq Iceland has approved Iceland Seafood‘s application to have its shares admitted to trading on the Nasdaq Iceland main market subject to documentation. The first day of trading on the main market is expected to be 29 October 2019.Nasdaq Iceland will announce the first day of trading with at least one trading day notice.

Bjarni Ármannsson CEO of Iceland Seafood:

“It is a pleasure to see the significant interest that investors have shown Iceland Seafood with their participation in the public share offering of the company.  This interest will be of a great support for the listing on the Nasdaq Main market. We at Iceland Seafood look forward to an interesting future and welcome new shareholders to our group”.

Kvika banki hf. was the Listing Advisor to Iceland Seafood and Manageer of the Offering.  

 

For further information:

Bjarni Ármannsson, CEO of Iceland Seafood - Tel: +354 550 8000

Bjarni Eyvinds, Managing Director at Kvika banki – Tel: +354 540 3200