A public offering of shares in N1 that ended last 9 December was significantly oversubscribed, with 7,700 subscriptions received. The offering was in two parts, and 18% of the shares in the company will be sold at ISK 18.01 per share in Order Book B, with 10% sold at ISK 15.3 per share in Order Book A. The overall volume of the offering was 280 million shares at a total selling price of ISK 4,770 million.

The Iceland  Enterprise Investment Fund (EIF) sold a 15% share in the offering, having previously sold a 10% share to holders of preference shares, in accorance with N1‘s composition agreement. In aggregate, therefore, EIF has sold a total share of 25% in the company. EIF‘s principal objective with the sale was to ensure that N1 met the conditions of the Stock Exchange regarding dispersed ownership, including conditions regarding holdings of private investors and overall number of shareholders. The conclusion of the offering is consistent with this objective.