Icelandic bank Straumur-Burdaras is considering shifting its legal domicile and stock exchange listing to London or Stockholm, according to the Financial Times.
The move is intended to help distance Iceland's largest remaining listed bank from its country's financial crisis plus increase its international focus, says William Fall, chief executive of the bank. Björgólfur Thor Björgólfsson, chairman and largest shareholder of Straumur-Burdaras, says a move out of Iceland has long been on the cards. "It has always been the policy to migrate, to make Straumur an international bank," he adds. The choice of Stockholm or London is based on the financial centres' 'institutional depth and regulatory quality' but plans rely on a reverse merger with a UK ...
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