Reykjavik, 24 April, 2013 - NASDAQ OMX (NASDAQ:NDAQ) announced that the shares of VIS Insurance hf. “VIS”, a Small Cap company within the Financial sector, today began trading on the Main Market of NASDAQ OMX Iceland. VIS is the second company to be listed on NASDAQ OMX Nordic this year, but the first on NASDAQ OMX Iceland market. It is also the first insurance company on the Icelandic market. VIS will trade under the ticker symbol VIS.
VIS is one of Iceland’s leading providers of insurance services. The company was founded in February 1989 when two insurance companies merged – Brunabotafelag Islands and Samvinnutryggingar, but it traces its roots to 1917. VIS enjoys a strong position on the Icelandic insurance market with roughly one-third market share. The company offers comprehensive insurance services to their customers where emphasis is placed on advice about insurance coverage, quality of service, efficiency and flexibility. The company operates 41 agencies around the country and employs about 225 employees. VIS employees and agents operate on the company’s core values which are: Caring, Professionalism and Results.
“The listing is a pleasant moment in the history of VIS. The investors’ demand in the IPO reflects the confidence investors have in the operations and future prospects of the company. Dispersed ownership with nearly 5000 shareholders goes well with our activities since VIS services a large and diverse group of customers nation wide. I appreciate the trust that we have been shown and look forward to cooperating with the new shareholders.” said Sigrun Ragna Olafsdottir, CEO of VIS.
“We congratulate VIS on their successful IPO and warmly welcome the company to the market. This listing is another indicator of the steady progress we are making in the equity market here in Iceland” said Pall Hardarson, President of NASDAQ OMX Iceland. “NASDAQ OMX offers VIS access to a unique pool of investors and access to capital for future growth. We look forward to working with them.”
Arion Bank is VIS’s financial advisor as well as market maker along with Landsbankinn.
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