OMX has finalized the acquisition of Eignarhaldsfelagid Verdbrefathing (EV), the owner of the Iceland Stock Exchange (ICEX) and the Icelandic Securities Depository (ISD).
The payment to EV’s shareholders consists of 2,067,560 newly issued OMX shares. The total number of outstanding shares has consequently increased to 120,640,467.
OMX is also paying a preliminary cash consideration equal to EV’s surplus cash and marketable securities of ISK 409 million (approximately SEK 41 million). The cash consideration might be adjusted as a final assessment of the value of the assets will be made before year-end.
The inclusion of EV into OMX’s accounts took effect on 1 December, and the OMX shares were also be listed on ICEX the same day.
“We view the acquisition of the Icelandic Stock Exchange positively,” says a spokesman for SEB in Stockholm. “Of the eight stock exchanges in the Nordic/Baltic Region, only Norway is not owned by OMX.”