Over 31,000 individuals purchase shares in Íslandsbanki auction

The public showed strong interest in the recent sale of Íslandsbanki shares, with over 31,000 individuals participating in the government’s auction, which concluded yesterday. According to a statement from the Ministry of Finance, nearly all the shares offered by the state were subscribed to by the public.

The average investment per individual was approximately ISK 2.8 million. Bids submitted under Order Book A totaled ISK 88.2 billion, and it is estimated that 31,274 individuals will receive allocations, pending final adjustments and corrections. At the auction price, the total value of the offering reached ISK 90.6 billion.

Unprecedented domestic interest

Investors participating in Order Books B and C accounted for the remaining portion of total demand, which amounted to approximately ISK 190 billion. Allocation announcements for these groups will be issued on the morning of Wednesday, May 21, 2025, in line with the established allocation rules.

The auction officially closed at 5 PM yesterday. Due to the overwhelming demand, the Ministry announced that it had decided to expand the sale to include the entire remaining 45.2% state stake in the bank.

The Ministry cited “significant overall demand and unprecedented domestic interest” as the driving factors behind the decision to increase the offering size.