Exista’s Value Plummeted ISK 33 Billion this Week Skip to content

Exista’s Value Plummeted ISK 33 Billion this Week

Iceland-based financial service company Exista lost 4.7 percent in market value yesterday and 11.2 percent since the beginning of this week. The company’s market value has thus plummeted by ISK 33 billion (USD 531 million, EUR 362 million) in less than one week.

According to Morgunbladid, the price of Exista’s share capital has fallen by 43 percent since it peaked in July 2007, which means that the company has lost almost ISK 200 billion (USD 3.2 billion, EUR 2.2 billion) in five months.

At the beginning of this year, one share in Exista cost ISK 22 (USD 0.35, EUR 0.24). Due to a rapid increase in price in the first half of 2007, the value of the company’s shares nearly doubled in mid summer, when each share cost ISK 40.25 (USD 0.65, EUR 0.44).

Now the value of shares has dropped almost back to where it started at the beginning of this year, to ISK 22.95 (USD 0.37, EUR 0.25), and to what each share in Exista cost when the company first registered on the OMX Nordic Stock Exchange in Iceland last fall.

Exista is not the only company losing value on the OMX Nordic Stock Exchange this week. Every company that is part of the selected share index dropped in value this week, other than bionic company Össur, which remained the same.

There have been some disturbances in the Icelandic stock market recently because of the changes undertaken at investment company FL Group, which were announced yesterday.

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