Carnegie joint global co-ordinator and bookrunner in SEK 1.1 billion Arion Banki placing

Carnegie acted as joint global co-ordinator and bookrunner in the placing of 200 million shares in Arion Banki, on behalf of its largest shareholder Kaupskil ehf., at a price of SEK 5.31 and ISK 70.00 per share respectively, equating to gross proceeds of approximately SEK 1.1 billion. The sold shares represents approximately 11% of the share capital in Arion.

Immediately after completion of the placing, Kaupskil is expected to retain a holding equivalent to approximately 25% of Arion Bank’s outstanding share capital. The retained holding will be subject to a lock-up period beginning on the date of this announcement and ending on the date which is 90 days after the date of completion of the transaction. Arion Bank will not receive any proceeds from the transaction.

Arion Bank is a leading universal relationship bank in Iceland that provides products and services which meet the needs of Icelandic households and companies.

Carnegie acted as joint global co-ordinator and bookrunner.

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