SKEL fjárfestingafélag hf. announced on 18 July 2025 that settlement regarding the purchase of share capital in Samkaup had been completed. Subsequently, Drangar hf., the parent company of Orkan, Lyfjaval and Samkaup, commenced operations. In recent weeks, the company has been presented to professional investors as an investment opportunity in connection with a share capital increase.
Signed subscription commitments amounting to ISK 3.6 billion have been received, whereas the objective was to raise ISK 3 billion. At the same time, Íslandsbanki hf. exercised a purchase right it held due to its underwriting, and SKEL exercised its right to convert a loan and sold to investors The price in the share capital increase is ISK 12 per share, corresponding to an equity value of ISK 24.3 billion prior to the capital increase. The issuance of share capital and settlement of transactions is scheduled for 9 December.
The investor group consists of domestic institutional and professional investors, as well as other private investors. In connection with the equity offering, a shareholders' agreement was approved, outlining the main priorities for the governance and operations of the company ahead of a listing on the stock exchange in 2027.
Following the offering, SKEL's ownership share in the company amounts to 61% of the issued share capital. The value of SKEL's stake, based on the offering price, is ISK 17.1 billion.
The offering was managed by Íslandsbanki hf., which also underwrote the offering. Fossar fjárfestingarbanki hf.'s corporate finance team acted as the financial advisor, and BBA//Fjeldco provided legal counsel.
Ásgeir Helgi Reykfjörð Gylfason, CEO of SKEL:
"Following a successful equity offering, we as shareholders are optimistic that the company is well-funded to implement the operational improvements needed at Samkaup. We already see that the changed focus in store operations is being well received by consumers and that the company has succeeded in streamlining its operations. It is our will and hope that this will continue. This positive result of the offering supports Drangar's future vision and the company's plans to list on the market in 2027."
For further information, contact Ásgeir Helgi Reykfjörð Gylfason, CEO of SKEL, at fjarfestar@skel.is
