Owner of Blue Lagoon prepares IPO on Nasdaq Iceland and opens capital to investors
The offering of around €100 million is scheduled to debut in November, with an estimated valuation of €600 million according to the Financial Times.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM MONEY TIMES · 2 MIN
Bláa Lónid hf., owner of Blue Lagoon, is preparing an initial public offering (IPO) on Nasdaq Iceland, and the operation can also be followed by individuals, not just institutional investors. According to Money Times, the company seeks to raise around €100 million in November.
According to Seu Dinheiro, shareholders approved the offer on October 30, and the debut is scheduled for the Nasdaq Iceland main market, also in November. The disclosure puts a tourism company from a small European country within the reach of those investing outside of Europe, a move that usually attracts attention because it is rare.
The Financial Times estimates the valuation at around €600 million, according to Money Times. The account, however, is based on just two transactions with the company's shares carried out in the European summer, which leaves the estimate with a narrow basis and subject to review when the price is formed in the market.
The Blue Lagoon receives around 1 million visitors per year in Iceland, according to Seu Dinheiro. The money raised in the IPO should finance new tourism ventures in mountainous regions and close to glaciers, according to Money Times, in other words, the company wants to expand its presence beyond the destination that made it known.
What is at stake is the ability to transform a consolidated attraction into a business with more scale and more operating locations, something that can only be confirmed with the execution of projects and discipline in managing the capital raised.
What changes for the investor
For the Brazilian investor, the main novelty is the possibility of direct exposure to a tourism company listed outside the country, in a sector that depends on the flow of visitors and foreign exchange. As initial pricing is based on few transactions, price formation at debut tends to be the point of attention, and it is worth observing liquidity, the release of results and the investment plan before making any decision. This text does not recommend buying or selling shares or forecasting prices.
Automatically translated from Portuguese.
