Monthly Economic Report

May 09, 2025By Consulate of Iceland in Zagreb
Consulate of Iceland in Zagreb

State plans Íslandsbanki sale

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The Ministry of Finance and Economic Affairs has advertised for one or more sellers for a planned auction of the state's stake in Íslandsbanki bank, with the aim of selling the state's shares in the bank in a marketed auction based on legislation passed by Alþingi, Iceland’s parliament, in June last year.

According to an announcement from the Ministry of Finance, the aim of the sale is to meet the main objectives of transparency, objectivity, equality and efficiency in the disposal of state assets. According to the legislation, bids shall be collected in at least two bid books, with priority given to individuals in allocation. A draft amendment currently being considered by Alþingi also stipulates that a third bid book will be added, among other things to ensure the participation of institutional investors and other investor groups.

Barclays, Citi and Kvika bank have already been appointed as managers of the upcoming auction, and Landsbanki's corporate advisory has been appointed as the state's independent financial advisor.