Icelandic bank KAUPTHING BANK (ISK 300 billion under management; market capitalisation of around ISK 19 billion and 400 employed) has made a public bid (public share offer) on the shares of the Swedish bank NORDISKA AB of which it already holds 28%. KAUPTHING offers 9.55 of its shares for one NORDISKA share, which currently corresponds to around SEK 12 per NORDISKA share, and which gives the bank a value of SEK 727.6 million.