Nasdaq (Nasdaq: NDAQ) today announced that trading in Síminn hf. (short name: SIMINN) commenced today on the Main market of Nasdaq Iceland. Síminn hf. is a mid-cap company within the telecommunications sector and is the 70th company to be admitted to trading on Nasdaq’s Nordic markets* in 2015.
Síminn hf. (Iceland Telecom) is Iceland’s largest telecommunications company with around 820 employees and traces its roots back to 1906. Síminn owns six subsidiary companies; Míla, Sensa, Staki, On-Waves, Talenta and Radíomiðun, that work within Síminn’s core operations in telecommunications, media and information technology both in Iceland and abroad. Síminn’s objective is to offer comprehensive product range and services in the telecommunications and IT industry. It has around 115 thousand customers, of which 88% are individuals providing for 48% of the company’s income.
“The listing of Síminn is a very important milestone for the company, its employees and investors alike. We are pleased to see the great interest in Síminn’s shares which goes to show the confidence investors have in the company.” said Orri Hauksson, CEO of Síminn hf. “As ever, we at Síminn are all determined in our task to keep on doing our best for our customers, shareholders and new investors, and thus maintain the trust we have been shown.”
“We sincerely welcome Síminn hf. to the Nasdaq family,” said Pall Hardarson, President of Nasdaq Iceland. “Síminn’s listing is a truly welcome addition to our Icelandic equity market, strengthening both the telecommunications sector and the market as a whole. We look forward to supporting them with the increased investor visibility that comes with listing on the Main market.”
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.