Útgerðarfélag Reykjavíkur hf. held a private tender for bills in two series on Tuesday, November 24, facilitated by Arctica Finance. This is the company's second tender this year, following the first one held in August. The tender was very successful, much like the previous one, with bids totaling ISK 3,060 million received from 13 parties. ÚR decided to accept bids for ISK 2,360 million at an average interest rate of 3.54%, which was 0.28% lower than in the previous tender.
ÚR is a robust fishing company that focuses on profitability and the sustainable use of resources. Through strategic investments in fishing quotas and solid fishing companies in Iceland and Greenland, the company has built up assets valued at approximately EUR 430 million. The company's equity ratio was 55.7% at mid-year 2020. The company's operations are currently threefold. Firstly, ÚR is a traditional Icelandic fishing company specializing in the operation of freezer trawlers. Secondly, the company is the largest shareholder in Brim hf., the only listed fishing company in Iceland, and thirdly, the company works on innovation and product development in the fishing industry through its subsidiary, ÚR Innovation.
"The success of this second tender confirms the interest of professional investors in the Icelandic fishing industry. Strong Icelandic fishing companies can offer investors excellent investment opportunities. ÚR has long aimed to work with Icelandic investors to build a modern, world-class fishing industry. The success of the tender shows that ÚR is on the right track."
