Icelanders invest in Faroese bank Skip to content

Icelanders invest in Faroese bank

Over 6,000 Icelandic investors, including Icelandic pension funds, have submitted subscriptions in a share offering undertaken by Faroese bank Foeroya Banka. The Faroese state is in the process of privatizing the bank.

“Icelandic and Faroese investors showed considerable interest in the share offer,” Foeroya Banka director Janus Petersen told Fréttabladid.

The Faroese state sold 60 percent of its shares to private investors in Iceland, the Faroe Islands and Denmark and to institutional investors in other countries around the world.

The bank offered shares in the amount of ISK 12.7 billion (USD 203 million, EUR 152 million). Foeroya Banka will be listed on the OMX Nordic Stock Exchange today.

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