Kvika concluded an offering of Nýherji shares [Nasdaq identity code: NYH] at the end of last week. The offering was a closed auction of shares with a nominal value of ISK 40m, or 9.76% of outstanding Nýherji shares. The offer was introduced on Monday 7 December and concluded with the delivery of bids at 16:00 hrs. on Friday 11 December. Demand for the shares was strong, with bids totalling ISK 118.9m nominal value, or three times the amount on offer. The price offered ranged between ISK 14.5 and ISK 18.0 per share. Bids in the amount of ISK 40m were accepted at a price of ISK 16.0 per share, for a total of ISK 640m.

Kvika will notify investors of the allocation of shares and provide payment instructions once NASDAQ Iceland has confirmed that the new shares have been issued and admitted for trading on the Main Market.