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Teymi - Share Offering Results   26.3.2007 08:58:04
News categories: Corporate news      Íslenska  English
Teymi hf

Teymi hf.’s share offering ended on Friday 23 March 2007 at 16:00. 842,105,263 shares at the share price ISK 4,75 were on offer at the total market value of ISK 4 billion. Investors subscribed to shares for the total market value of ISK 6,3 billion and the demand thus exceeded shares on offer by 57%.


Shareholders were offered 421,052,632 shares for the market value of ISK 2 billion. Current shareholders subscribed to shares for the amount of ISK 2,4 billion. Shareholders could subscribe to more or less shares than they were entitled to in this part of the offering.  Unsubscribed shares were allotted to those requesting more shares in proportion with their recorded shareholdings at the close of business 15 March 2007. 


Institutional investors were offered 421,052,632 at the market value of ISK 2 billion. Institutional investors subscribed to shares for the total amount of ISK 3,9 billion.


The Board of Directors of Teymi based their decision on allotment on restricting current shareholders to the part of the offering aimed at said shareholders. When allocating shares to institutional investors the Board aimed at increasing the number of pension funds and other institutional investors in the shareholders’ group.


Árni Pétur Jónsson, CEO of Teymi hf.: “Teymi’s management is pleased with the support investors are showing the company by participating in the offering. This proves that investors have faith in the company’s operations and its possibilities’ in the electronic communications and IT market. Furthermore, the support is recognition of our efforts to install faith in the company by setting clear goals, structured actions and sending out clear messages to the market.”


Þórdís J. Sigurðardóttir, Chairman of the Board of Directors of Teymi hf.: “We are pleased with the participation of investors in the offering. In particular, we welcome the country’s largest pension funds as shareholders in Teymi hf.”  


The payment due date of offered shares is Wednesday 28 March 2007. The company aims at raising the share capital and registering the shares with the Icelandic Securities Depository no later than 2 April 2007 and list the shares on the Icelandic Stock Exchange on 3 April 2007.


Landsbanki Íslands hf. – Corporate Finance was the Manager of the Offering.