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SKEL fjárfestingafélag hf.: Market-Making Agreement

Written by Customer Service on . Posted in Public Companies.

SKEL fjárfestingafélag hf. (“SKEL”) has entered into a market-making agreement with Landsbankinn for its issued shares. The purpose of this agreement is to enhance trading activity in SKEL’s shares on Nasdaq Iceland, increase liquidity, establish market value, and ensure transparent and efficient price formation.

Under the agreement, Landsbankinn is required to maintain bid and ask prices with a minimum market value of ISK 8 million. The maximum daily net trading volume is ISK 16 million in market value, calculated as the difference between bid and ask prices entered into the market. The maximum price spread between bid and ask prices is determined by the 10-day volatility of SKEL’s share price. If the 10-day volatility is below 30%, the volume-weighted price spread will be 2.0%; otherwise, it will be 4.0%.

The parties aim, though are not obligated, to stagger bid and ask orders. This ensures that part of the order book is within a narrower price range than the volume-weighted price spread, while another part is in a broader range, maintaining the specified volume-weighted spread.

The agreement takes effect on December 12, 2024, and is valid for an indefinite period. Either party may terminate the agreement with 14 days’ notice.

For further information, please contact Magnús Ingi Einarsson, CFO, fjarfestar@skel.is

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