Formal agreements with three parties on coordianation for the offering of the state's holdings in Islandsbanki

Earlier this summer, the State's Financial Management Authority, on behalf of the Ministry, advertised for coordinators for the offering of the state’s holdings in Íslandsbanki, targeting both domestic and international markets. The project attracted significant interest, with numerous parties expressing a desire to take on the supervisory role, which includes planning and overseeing the offering, as well as managing the offer books.

Following this process, The Ministry of Finance and Economic Affairs has decided to enter into formal agreements with three parties—Barclays, Citi and Kvika—to serve as Joint Global Coordinators for the government's proposed Fully Marketed Offering of the state's holdings in Íslandsbanki hf.

It is anticipated that formal agreements with the three parties will be finalised this month.