Successful primary listing of Skeljungur hf. on the Nasdaq Iceland regulated market completed
In April 2015 Skeljungur hf. announced its plans to apply for listing on the Nasdaq Iceland stock exchange. The Company subsequently appointed Íslandsbanki’s Corporate Finance division as its Lead Manager in managing the listing process. The Bank‘s role included setting out and enforcing the listing timetable, providing advisory to the Company concerning regulatory and listing requirements, arranging a three-fold due diligence process, preparing a valuation of the Company for the Management, compiling and editing the Prospectus and acting as intermediary with the Financial Supervisory Authority – Iceland concerning the scrutiny process and the Nasdaq Iceland concerning the listing application.
All shares in Skeljungur hf. were admitted to trading on 9 December 2016.
About Skeljungur hf.
Skeljungur is an Icelandic oil company whose main purpose is the import, storage, distribution and sale of oil and oil related products. Skeljungur is the parent company of several subsidiaries, most important of which is the Faroe Islands based P/F Magn. The Company operates in two geographical markets; Iceland and the Faroe Islands. The Company further has an expanding international business delivering oil to international vessels in the growing North Atlantic market.
Skeljungur has a long history and strong ties in the Icelandic economy and community. The Company is one of Iceland’s oldest operating companies, tracing its roots back to 1928 when H/F Shell in Iceland was established. Shell Petroleum Company (later Shell International) was a founding partner in H/F Shell in Iceland and remained a large shareholder for 75 years.