Tuesday, May 3, 2005

Mosaic Fashions, a UK clothing firm, is set to make history as it becomes the first foreign company to list on the Iceland Stock Exchange (ISE).

Mosaic, which owns the clothing brands Oasis, Karen Millen, Coast and Whistles, operates 600 stores and is majority owned by retail investment group Baugur. Mosaic employs approximately 5,400 staff throughout the UK and Ireland.

The exchange was founded in 1985 and has since grown to encompass 34 firms with a combined value of over US$21bn (€16.3bn; GBP11.1bn).