Excess demand in a private offering of shares in Icelandair Group hf.
25.06.2012In a private sales offering, Íslandsbanki accepted bids for 514,460,932 shares or 10.29% of the issued share capital in Icelandair Group hf. The offering was three times over-subscribed, resulting in a total sales value ISK 3.3 billion. The Bank had aimed to sell a 5% stake in Icelandair Group hf. but the final amount was revised upwards when the results of investors’ bids were in. After the sale, the Bank‘s equity holding in Icelandair Group hf. is 9.7%, compared to a 19.99% stake prior to the sale