NASDAQ OMX (NASDAQ:NDAQ) announced that the shares of Sjova-Almennar tryggingar hf, (Sjova), a Small Cap company within the Financial sector, today began trading on the Main Market of NASDAQ OMX Iceland. Sjova is the seventh company to be listed on NASDAQ OMX’s Nordic main markets in 2014 (NASDAQ OMX Stockholm; Helsinki; Copenhagen and Iceland), and the first one on NASDAQ OMX Iceland this year. Sjova will trade under the ticker symbol SJOVA.
Sjova is an Icelandic insurance company with comprehensive operations in Iceland in the field of non-life and life insurance. The company is the largest in the field of life insurance in Iceland and the second largest in non-life insurance, providing insurance coverage to individuals and legal entities alike. The company operates 12 branches around the country and employs around 200 people. Sjova strives to be known as a fair, professional and progressive service company.
“It was our goal from the beginning to ensure a vast distribution of shares among the public.“ said Hermann Björnsson, CEO of Sjova. “We are extremely pleased to see the great investor’s interest in the company and welcome all our new shareholders. We have worked diligently to strengthen the company’s financials as well as infrastructure before the listing and believe we can go from strength to strength on the Icelandic equity market.”
“We are proud to welcome this year’s first listing, Sjova, to the Main Market.” said Pall Hardarson, President of NASDAQ OMX Iceland. “Sjova is a well-known brand and has a strong profile in Iceland, being one of the largest insurance operators in the country. Listing a company increases public awareness and interest, and we now look forward to supporting Sjova on their new path as listed company.”
Islandsbanki was Sjova’s advisor during the listing process. Islandsbanki and Landsbankinn are the company’s market makers.