Össur Leaves Iceland Stock Exchange Skip to content

Össur Leaves Iceland Stock Exchange

It was decided at the general meeting of the Icelandic orthopedics manufacturer Össur on Friday to delist the company from the Icelandic stock exchange and from now on only have it registered on the Danish stock exchange.

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The Icelandic stock exchange. Photo by Páll Stefánsson.

Össur’s executives are dissatisfied with the business environment in Iceland, unprofessional work methods and legislation that is poorly thought through, ruv.is reports. Additionally, they don’t consider the Icelandic króna a reliable enough currency.

In terms of value, one third of the Icelandic selected share index will disappear with Össur, which is one of six companies forming the index.

“It has a bad influence on the stock exchange,” commented editor of business magazine Frjáls verslun Jón G. Hauksson, pointing out that after the banking collapse in 2008, 95 percent of the stock exchange evaporated.

“The stock exchange has had two or three valuable companies: Össur, Marel and Icelandair. Now there are fewer options for Icelandic shareholders and investors,” Hauksson added.

“That especially applies to the pension funds. However, they will probably try to register the companies that they come into ownership of on the market, for example through the Enterprise Investment Fund,” he said.

“Smaller investors, on the other hand, won’t find it easy to follow companies like Össur abroad. There are currency restrictions in the country and Icelanders can’t buy foreign currency to invest in Össur in Copenhagen,” Hauksson concluded.

According to a recent survey conducted by Frjáls verslun, Össur is the most popular company in Iceland.

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