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    Public Offering of Hampiðjan oversubscribed over three times
    04.06.2023

    Public Offering of Hampiðjan oversubscribed over three times

    Public Offering of Hampiðjan oversubscribed over three times - mynd

    • Around 3,700 subscriptions were received for a total of ISK 32.3 billion.
    • Order Book A is allocated at a price of ISK 120 per share. Subscriptions up to ISK 500 thousand were not reduced. Subscriptions were otherwise reduced proportionally.
    • Order Book B is allocated at a price of ISK 130 per share, determined by a book-building process. Reduction of subscriptions was in line with the terms of the offering. Investors who placed subscriptions below the determined price are allocated no shares.

    The public offering of Hampiðjan hf. ended at 14:00 GMT on 2 June. A total of around 3,700 subscriptions were received for a total consideration of ISK 32.3 billion, which corresponds to over threefold oversubscription. Order Book A was oversubscribed by a factor of nearly six while Order Book B was oversubscribed by a factor of nearly three. The offering price in Order Book A is fixed at ISK 120 per share, while the offering price in Order Book B is ISK 130, determined by a book-building process.

    In Order Book A, 17 million shares were allocated, corresponding to a total consideration of roughly ISK 2 billion. At allocation, subscriptions were generally reduced by around 95% while following the terms of the offering regarding treatment of subscriptions made by employees of Hampiðjan as well as general subscriptions. In Order Book B, 68 million shares were allocated, corresponding to a total consideration of roughly ISK 8.8 billion. Subscriptions in Order Book B were reduced proportionally by approximately 40%.

    In total, 85 million shares were allocated in the offering, amounting to a total consideration of ISK 10.9 billion.

    Hjörtur Erlendsson, CEO of Hampiðjan:

    “We are thankful for the significant interest investors have showed in Hampiðjan, as we welcome a large number of new shareholders to the company. The capital raised in the offering will allow us to see to the projects at hand with increased vigor. Hampiðjan now returns to the Main Market after sixteen years, as one of Iceland’s largest listed companies.”

    Investors will be notified of their allocation no later than 5 June.

    The due date of investors‘ subscriptions will be 7 June, and the new shares are expected to be delivered on 9 June.

    Hampiðjan‘s shares are expected to be admitted to trading on the Regulated Market of Nasdaq Iceland on 9 June, as Nasdaq Iceland has accepted the company‘s application without conditions.

    Arion Bank served as Hampiðjan‘s advisor for the public offering.