Successful Completion of Drangar Share Offering
SKEL Investment Company announced on 18 July 2025 that settlement had been completed for Orkan’s acquisition of share capital in Samkaup. Following this, Drangar hf., the new parent company of Orkan, Lyfjaval, and Samkaup, commenced operations. These companies operate strong consumer-facing brands nationwide with over 160 service locations.
In recent weeks, the company has been presented to professional investors as an investment opportunity in connection with a share capital increase intended to finance and implement the operational improvements required at Samkaup.
Subscription commitments totaled ISK 3.6 billion, exceeding the ISK 3 billion target. In parallel, Íslandsbanki exercised a purchase right held due to an underwriting agreement, and SKEL exercised its right to convert a loan and sold shares to investors. This ensured that all subscriptions were met in full.
The share price in the capital increase was ISK 12 per share, corresponding to a pre-money equity valuation of ISK 24.3 billion. The investor group consists of domestic institutional and professional investors, as well as other private investors. In connection with the offering, a shareholders’ agreement was approved outlining the key governance and operational priorities for the company ahead of a planned listing on the stock exchange in 2027.
Fossar Investment Bank’s corporate finance team acted as bookrunner, while Íslandsbanki acted as the coordinator and BBA//Fjeldco provided legal advice.
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