23. May 2016

Kvika advises on sale of 40% stake in Iceland Seafood International

Kvika supervised the private placement of a 40% stake in Iceland Seafood International, which concluded on 11 May 2016. The market value of the holding was ISK 2.8bn, and the entire stake was sold to a broad group of investors. Iceland Seafood International has begun preparations for listing on the First North market and published a Company Description that can be found on the company's website, www.icelandseafood.is.

Iceland Seafood International is a leading sales and marketing firm in the export of fresh, frozen, and salted marine products. The company was founded in 1932, and its operations extend to all major seafood markets worldwide. Its headquarters are in Iceland, and it operates seven business locations in Europe and North America.

First North is an alternative stock exchange for growth companies in the Nordic region. First North uses the same infrastructure and distribution network as Nasdaq North, which provides customers, listed companies, investors, and other market participants ready access to roughly 80% of the securities markets in the Nordic and Baltic region. All firms listed on First North must have an agreement with a certified adviser. Kvika is Iceland Seafood's certified adviser for the company's listing on the First North exchange.