CDR advises on the largest Icelandic IPO in history
Citigate Dewe Rogerson (“CDR”) is extremely proud to have provided financial communications advice to Íslandsbanki during its historic IPO this month.
The value of the IPO was approximately US$ 457 million, valuing the bank, which holds market leading positions in personal banking, business banking and corporate and investment banking in Iceland, at US$1.3 billion. The offering was multiple times oversubscribed, receiving substantial interest from both institutional and retail shareholders, demonstrating widespread investor confidence in Íslandsbanki’s strategy and vision.
In advance of the IPO, CDR worked with Íslandsbanki to build corporate profile and manage the company’s story to ensure its history, strategy and achievements were well-understood. The bank’s website was reviewed and upgraded to reflect this new strategic messaging and CDR helped the company to initiate and expand its relationships with international media, including both financial and trade media, coordinating this process with Icelandic media relations efforts.
The CDR team advising on the transaction was led by Senior Director and Head of Emerging Markets, David Westover and Executive Director, Caroline Merrell. They were supported by Associate Director, Laura Banks and Account Executive, Alex Winch.