Eimskip – Market making agreement with Arion
Eimskipafélag Íslands hf. has entered into a new agreement with Arion Bank regarding market making. Arion Bank will, on a daily basis, submit bid and ask offers for the company’s shares in the Nasdaq Iceland trading system. The purpose of the market‑making agreement is to promote increased liquidity in the issuer’s shares, help establish a market price, and ensure that price formation for the shares is as efficient and transparent as possible.
Arion Bank shall submit bid and ask offers for a minimum of 30,000 shares in the issuer, at prices determined by Arion Bank. The offers shall be in two parts: the price spread for bid and ask offers relating to 28,500 shares shall be determined with reference to the Nasdaq Iceland tick size table as applicable at any given time, in such a way that the spread is as close as possible to 1.5% but not lower than 1.45%. The price spread for bid and ask offers relating to 1,500 shares shall be determined with reference to the Nasdaq Iceland tick-size table as applicable at any given time, in such a way that the spread does not exceed 1.50%. However, Arion Bank is permitted to submit bid and ask offers in both the A‑leg and B‑leg with a narrower spread than specified above, for example due to circumstances arising from the Nasdaq Iceland tick-size table.
If Arion Bank, within the same trading day, trades in the issuer’s shares through the bank’s market-making book (the bank’s trading desk) in a total nominal amount of 240,000 shares or more, the above‑mentioned obligations regarding maximum bid–ask spreads lapse for the remainder of that day. If the share price of the issuer moves more than 5% during the trading day, Arion Bank is permitted to double the above-mentioned spreads, and if the price movement exceeds 10%, the bank is permitted to triple them.
The agreement is valid from 5 March 2026 and is open‑ended, but either party may terminate it with 14 days’ notice.
Further information
Guðbjörg Birna Björnsdóttir, Head of Treasury and Investor Relations, tel: , email:
