As of today, the 25 listed companies from Iceland will be part of the common Nordic presentation of Swedish, Finnish and Danish companies listed on the Nordic Exchange’s main market.
Thus, the Icelandic companies will be subject to the harmonized Nordic listing requirements and part of the OMX Nordic index family.
As of today, April 2, 2007, the 25 Icelandic companies are part of the Nordic Exchange's main market. Out of the 25 Icelandic companies, 9 are Large Cap, 10 Mid Cap and 6 Small Cap. The companies will also be part of the OMX Nordic index family, covering among others All-share and Sector indexes. The All-Share index reflects the development of the Nordic market, while the sector indexes provide investors with tools to compare industries across different countries in the Nordic region.
"To include Icelandic companies in OMX's joint presentation of Swedish, Finnish and Danish companies, gives investors even more to choose from. By being part of OMX Nordic Exchange, Icelandic companies benefit from increased visibility and better benchmark possibilities. Furthermore, by adapting the listing requirements to the Nordic standard, we increase market harmonization," said Thordur Fridjonsson, President of the Nordic Exchange in Iceland.
"It is very gratifying to welcome 25 new and interesting companies to the Nordic Exchange. These companies further strengthen several of our sectors, primarily Financials, Consumer Staples and Industrials," says Jukka Ruuska, President OMX Nordic Exchange.
OMX Nordic 40 index, based on the 40 most actively traded companies on the Nordic Exchange, is reviewed bi-annually. The next selection for the index, where Icelandic companies will be eligible for inclusion, will be effective on July 3, 2007.
The names of the local Icelandic indexes will be harmonized with the OMX Nordic index name standard. As an example, ICEX-15 will be renamed OMXI15, where the I stands for Iceland and 15 for the number of companies included in the index.