NASDAQ OMX (NASDAQ:NDAQ) announced that the shares of TM Insurance hf. “TM”, a Small Cap company within the Financial sector, today began trading on the Main Market of NASDAQ OMX Iceland. TM is the third company to be listed on NASDAQ OMX Nordic this year, and the second on the NASDAQ OMX Iceland market. TM will trade under the ticker symbol TM.
TM is an Icelandic insurance company offering comprehensive insurance services to over 50.000 individuals and businesses. TM has an operating licence in the EU area and in Faroe Islands and insures domestic and international risks. As a result of the insurance business, investments are an important part of TM’s activities. TM’s goal is to provide clients with outstanding service and good returns to its shareholders.
Sigurdur Vidarsson, CEO of TM Insurances said: “We are very pleased to welcome all of our new shareholders and are excited to head towards the future with them. TM has changed considerably since 2008, when the company was last listed with NASDAQ OMX Iceland. Our technical performance is the best in the Icelandic insurance market and our goal is to keep pushing the boundaries in terms of our underwriting practices, risk management and service excellence, for the benefit of our shareholders and customers.”
“It is with pleasure that we welcome TM Insurance to the Icelandic Main market. Investor interest in TM demonstrates both how well suited the company is for the market as well as the need for additional investment alternatives.” said Pall Hardarson, President of NASDAQ OMX Iceland. “TM’s decision to list on NASDAQ OMX Iceland has brought them around 7000 new shareholders. We look forward to supporting the company on their path towards a new future as a listed company.”
Landsbankinn and Islandbanki are TM’s financial advisors and Islandsbanki and MP Bank are market makers.