Published: 2018-06-12 09:00:00 CEST
NASDAQ Iceland hf.
Market news

Shares of Arion banki hf. admitted to trading on Nasdaq Iceland

Nasdaq Iceland (the Exchange) has approved Arion banki hf.’s (ID no. 581008-0150) (”Arion Bank”) request for admission to trading on the Exchange’s Main Market. The approval is subject to the company’s ability to fulfill requirements regarding the distribution of shares. The first day of trading in the company’s shares will be June 15, 2018. On the same day, Swedish depository receipts (”SDR’s”) will be admitted to trading on Nasdaq Stockholm.

When issued trading / conditional trading

Settlement in Arion bank’s offering is expected to be finalized on June 18, 2018. If the settlement results reveal that the conditions for liquidity set forth in the Rules for Issuers of Financial Instruments on Nasdaq Iceland hf. have not been met, the Exchange reserves the right to withdraw the approval for admission to trading. Up to and including June 18, 2018, trading in the shares of Arion banki are conditional upon the Exchange not withdrawing its approval, cf. discussion on conditional trading in Arion banki’s prospectus.

This marks the first time that conditional trading is utilized in Iceland. However, the arrangement is commonly utilized by other Nasdaq Nordic exchanges.

From admission to trading up to and including June 18, 2018, the issuer’s shares wil carry the note code WI (”When Issued”) for clarification. For further information regarding the offering, refer to chapter E.3 in Arion bank’s prospectus.

 

Company name Arion banki hf.  
Symbol ARION  
First day of trading June 15, 2018  
Number of shares 2,000,000,000  
ISIN code IS0000028157  
Orderbook ID 156438  
Round lot 1 share  
Segment OMX ICE Equities / 23  
Dynamic Volatility Guard 5%  
Market segment Large Cap  
Tick-size table XICE Equities, ISK  
MIC XICE  
     
ICB classification    
     
Industry 8000 Financials
Supersector 8300 Banks