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Kvika banki hf.: Announcement regarding increase in share capital

·1-min read

On 28 October 2021 Kvika banki hf. („the Company“) announced that the Board of Directors had exercised its authority according to Temporary Provisions II and IV of the Company‘s Articles of Association to increase its share capital by ISK 27,425,008 for the purpose of fulfilling the exercising of subscription rights.


According to Article 19 of Icelandic Act No 20/2021 an issuer shall, if the issuer increases or reduces its share capital or number of voting rights, as soon as possible and no later than on the last trading day of the calendar month, disclose the total number of shares and the total number of voting rights.


The share capital increase has now been registered by the register of undertakings of the Directorate of Internal Revenue and the share capital amounts to nominal value of ISK 4,892,769,932 of which the bank owns 117,256,300 own shares nominal value. Additionally TM tryggingar hf., Kvika's subsidiary, owns 6,400,000 shares nominal value. Each share corresponds to one Icelandic króna in nominal value and each króna of share capital carries one vote, excluding own shares.

It will be requested that the new shares will be issued by the Nasdaq central securities depository and that the shares will be listed for trading on the Main Market of Nasdaq Iceland.


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