Biggest Listing Ever in Iceland

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Biggest Listing Ever in Iceland

Seven companies have asked to be listed on the NASDAQ OMX in Reykjavík, in one of the biggest privatization plans in the country’s history. All seven companies are owned, at least in part, by Landsbanki Íslands, which the Government of Iceland owns 81 percent,  Fréttablaðið reports.

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NASDAQ OMX in Reykjavík. Photo by Páll Kjartansson.

The companies are: investment company Horn, owned 100 percent by Landsbanki; the shipping company Eimskip of which Horn owns 3.95 percent; Reginn, a property management company owned 100 percent by Landsbanki; Reitir, a real estate company of which Landsbanki owns 29.6 percent; Advania, a software and application company which Landsbanki owns a 79 percent share in; and N1, Iceland’s biggest gas service company of which Landsbanki owns 55 percent.

The bank itself will also be put on the market in 2012.

PS