Icelandic company looks to Copenhagen bourse to raise capital  

2009.09.01
Icelandic orthopedic prosthesis manufacturer Ossur is seeking a secondary listing on the Copenhagen stock exchange in a bid to attract international investors
Times have changed in Iceland from the days when its financial institutions were awash with money that poured in from all points of the compass to take advantage of attractive rates of return. Now companies on the cash-strapped island on the edge of the Arctic are having to look elsewhere for sources of investment capital.
 
One such is the Icelandic orthopedic prosthesis manufacturer Ossur, which according to financial daily newspaper Børsen is seeking a secondary listing on the Nasdaq OMX Nordic Exchange in Copenhagen to get international investors interested in its shares and thus raise capital for the company's expansion.
 
Ossur's managing director Jon Siggurdsson told Børsen: "The Icelandic stock exchange is not at its best right now. Currency restrictions in Iceland make it absolutely impossible for investors to buy and sell shares in Ossur. Denmark is a far better place to raise capital for further expansion."
 
There are already a healthy number of Copenhagen bourse-listed companies operating in the medical industry, which is likely to help Ossur to gain coverage by investment bank analysts and thereby increase awareness of the company by international investors.
 
According to Børsen, Ossur expects its listing application to be approved by the Copenhagen stock exchange some time this week.

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