The recovery of the Iceland's banking system is a well drawn-out affair that has been repeated ad nauseam. However, encouraging signs continue to reiterate the theme of stability regarding the Icelandic road to recovery.
Last month, the rating agency Standard & Poor's revised the outlook of Iceland's three largest banks – Arion Bank, Íslandsbanki and Landsbankinn – from stable to positive as well as affirmed the BB+/B rating.
Now Íslandsbanki, Iceland's second biggest bank, is looking to sell shares through a foreign IPO. The location of the initial public offering is still being considered. Currently, options have been narrowed down to a Scandinavian capital city or London. The aim of the IPO is to benefit the bank's bondholders, which are primarily made up of hedge funds that bought assets after the banks collapse.
The recovery of the Iceland's banking system is a well drawn-out affair that has been repeated ad nauseam. However, encouraging signs continue to reiterate the theme of stability regarding the Icelandic road to recovery.
Last month, the rating agency Standard & Poor's revised the outlook of Iceland's three largest banks – Arion Bank, Íslandsbanki and Landsbankinn – from stable to positive as well as affirmed the BB+/B rating.
Now Íslandsbanki, Iceland's second biggest bank, is looking to sell shares through a foreign IPO. The location of the initial public offering is still being considered. Currently, options have been narrowed down to a Scandinavian capital city or London. The aim of the IPO is to benefit the bank's bondholders, which are primarily made up of hedge funds that bought assets after the banks collapse.
