26 June, 2021

Getting ready to play....A very successful conclusion to latest share offering by new Icelandic airline. Uniforms revealed.

On Friday evening the new share offering for the new budget carrier from Iceland, Play ended with a total new 221,906,800 shares issued.  There were two separate offer books available, offer book A and B, which were different with regard to size and allocation.

Approximately 4600 subscriptions were received for in total ISK 33.8 bn. or approx. USD 274 m.
In book A subscriptions were made for in total ISK 6.7 bn. or approx. USD 55 m, at the fixed rate of ISK 18 per share.
In book B subscriptions were made for in total ISK 27.0 bn. or approx. USD 220 m, with the final offer rate of ISK 20 per share.
The offering was managed by Arctica Finance, as Lead Financial Advisor, and Arion banki as Joint-Financial Advisor.

Play’s board of directors will now evaluate the subscriptions received in the offering and make decisions with regard thereto. The results of the allocation of the offering are expected to announced at the end of 28 June 2021. Information on final allocation will be accessible through the subscription system, which can be accessed through Arctica Finance´s website, www.arctica.is/play, by using the same log in credentials as in the subscription process.

The final due date for payment is expected to be on 5 July 2021. Subject to payment, the newly issued shares are expected to be delivered on 9 July 2021.

Trading of the shares of Play on Nasdaq First North is expected to commence on 9 July 2021. First day of trading of Play’s shares will be announced at least one business day in advance.

Birgir Jรณnsson, CEO of Fly Play said:  "This is a defining moment in PLAY‘s history with our inaugural flight yesterday which was a huge achievement by itself but also because today PLAY successfully concluded its IPO. Our staff has worked wonders over the past few days, and indeed weeks. We are well prepared to maximize the post-covid opportunity and we believe our investors have placed their trust in us as we have shown the resilience that is needed in this market. To add to the joy of today the Icelandic government finally declared Iceland free of any pandemic restrictions from midnight onwards. I think we can allow us some optimism now that we can start rebuilding Iceland’s tourism, and the world’s."


The new airline also recently announced details of its new uniforms which have been designed by Gunni Hilmars and Kolla who were keen to tackle a fresh take on what is usually a very traditional line of clothing.  They took a blast away from the traditional and have gone with a look that would be more likely to be seen in a sports retail store or a gym.  

Play says the uniforms are 'Fresh and fashionable and encompass our core values, simplicity, playfulness, competitiveness, equality and on-time performance.'  

"The uniforms are not gender-specific, and our crew can pick whatever works for them from a varied selection of outfits." 

The team here at Air101 are not unified,  I like that casual take on what can sometimes be boring airline uniforms,  Jason Shaw fears that such a casual attitude to an airline's identity, its playful ethos could translate to its attitude on everything else, like safety, authority and trustworthiness. "I like the white t-shirts with the raised logo, but the rest either looks scruffy as hell or something you'd see on a football terrace"


What is your take on the new uniforms?  Are they stylish, fresh and fashionable? 

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