- Biggest IPO on ICEX when Exista is listed on 15 September
- Public offering commences on Monday 11 September

The private placement of shares in Exista to institutional investors is now closed. In total institutional investors requested to buy shares worth more than ISK 75 billion, more than ten times the amount on offer.

Owing to the considerable demand it was decided to exercise the authorization to double the number of shares on offer. As a result Kaupthing Bank placed a total of 300 million shares at a price of ISK 21.5 a share and generated proceeds of ISK 6.45 billion.

The private placement forms part of the process of listing Exista on the Iceland Stock Exchange on 15 September. It will be the largest IPO in the history of the Iceland Stock Exchange.

Between Monday 11 September and Wednesday 13 September, 65 million shares will be sold to the public at the same price as in the private placement to institutional investors. The sale value of these shares is approximately ISK 1.4 billion. Parallel to the public offering, a further 65 million shares will be sold to employees of Exista at the same price.

The manager of the share offering to employees and the public, as well as the private placement to institutional investors, is Kaupthing Bank. Subscription for shares in the offering will be made via the bank's website, www.kaupthing.com.

Enquiries:

Sigurdur Nordal, Managing Director of Group Communications, Tel: +354 860 8620