Main owners of Kaupthing and Geest to control ISK 900 billion of assets on Icelandic Exchange Skip to content

Main owners of Kaupthing and Geest to control ISK 900 billion of assets on Icelandic Exchange

The business publication Vidskiptabladid reports in its latest issue that the brothers Ágúst and Lýdur Gudmundsson will control ISK 900 billion (approx USD 11 billion) worth of assets when their holding company Exista lists in the fall.

According to Vidskiptabladid, the Gudmundsson brothers will then be the main shareholders of 3 out of the 8 largest companies on the Icelandic Stock Exchange, by market capitalization.

The companies are Exista, valued at ISK 288 billion, KB-bank (Kaupthing), valued at ISK 520 billion, and Bakkavör (owner of Geest), valued at ISK 105 billion.

The Gudmundsson brothers own just under 50 per cent of Exista which in turn is the largest shareholder of Kaupthing and Bakkavör with approximately 20 per cent and 25 per cent stake, respectively.

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