Milbank LLP advised the underwriters in connection with the privatization, initial public offering and Nasdaq Iceland listing of Íslandsbanki hf., a leading bank in Iceland. The transaction, which valued Íslandsbanki at ISK 158 billion (US$ 1.3 billion), involved the sale by the Government of Iceland of 35% of the bank’s shares raising IPO proceeds of ISK 55.3 billion (US$ 457 million), which represents the largest IPO in the history of Iceland and the largest European bank privatization since 2018. The shares commenced trading on Nasdaq Iceland on June 22, 2021.
The Milbank team was led by Capital Markets partner David Dixter, special counsel Ana Grbec and associate Maria C. Schweinberger. The team also included London Corporate partner Mark Stamp and associate Anna Bryant and New York Tax partner Andrew Walker and associate David Hanno.
