The Nordic Exchange welcomes Eik Banki
Today Eik Banki is primarily listed on the OMX Nordic Exchange Iceland, and at the same time on the OMX Nordic Exchange Copenhagen. Eik is the fifty-seventh company to join the Nordic Exchange this year. As well as becoming a listed company, Eik Banki also expands the membership at the Nordic Exchange to Copenhagen. A live webcast from the listing ceremony is accessible today.
Eik Banki P/F which is the parent company of the Eik Group and the largest bank in the Faroe Islands, was founded in 1832. The overall strategy of Eik Banki P/F is to spread its activities geographically and in different business areas in order to spread risk and increase profit. In 2006, 50 percent of the income originated from outside of the Faroe Islands.
The Eik Group consists of 17 full service branches in the Faroe Islands, 1 fully owned Copenhagen
subsidiary, Eik Bank Danmark A/S, and Inni P/F, a fully owned Faroese real estate agency. Furthermore, Eik Bank Danmark is in the process of acquiring the Danish branch of SkandiaBanken AB, the largest internet bank in Denmark. In addition, the Eik Group holds 9.94 percent of the shares in SPRON and 29 percent of the shares in the Danish company Investea A/S. The main operating areas of Eik Banki P/F are retail banking, corporate banking, securities trading, asset management, pension savings and investment banking.
“It´s a great pleasure to welcome Eik Banki to the Financials sector on the Nordic Exchange. Eik Banki will be an interesting addition to an already very strong sector in Iceland. The Icelandic market has been fruitful in providing capital to the rapidly expanding banks and Eik Banki will no doubt benefit from taking this important step in its development,” says Thordur Fridjonsson, President of OMX Nordic Exchange Iceland.
”Eik Banki is is now a member of OMX Nordic Exchange in Iceland and in Copenhagen and as part of the rapid development, the company chooses to become listed both places. This is an expression of the positive tendencies in the market but is also an approval of the Nordic Exchange’s set up and existence,” says Jan Ovesen, President, OMX Nordic Exchange Copenhagen.
“Eik Banki is the newest and - with its 175 years history - probably also the oldest listed company on the OMX Nordic Exchange in Iceland and Copenhagen. When Eik Banki was transformed from a Savings Bank to a PLC in 2002, it was stipulated in the Articles of Association, that the Board of Directors could list the shares. This listing has therefore been in the pipelines for some time, and I strongly believe that it will benefit both Eik Banki, its shareholders and the Faroese society as a whole”, says Marner Jacobsen, CEO of Eik Banki.
Eik Banki is a Mid Cap company and will join the MidCap+ index on OMX Nordic Exchange Copenhagen. A round lot of shares in Eik Banki, whose short name is FO-EIK on OMX Nordic Exchange Iceland and FO-EIK CSE on OMX Nordic Exchange Copenhagen, amounts to 10. The company belongs to the Financial sector.
A live webcast from the listing ceremony is accessible on 11 July at 10:45 Faroese time (9:45 Icelandic time and 11:45 CET). Go to www.eik.fo, www.eik.dk or www.eikbank.dk.