Blue Lagoon seeks €105m to make Iceland a global wellness destination
Tuesday 10th November 2026 on 12:46 in
Iceland
Blue Lagoon aims to help make Iceland one of the world’s leading wellness and experience destinations within five to 10 years, the company said at a presentation for its share offering, which began Tuesday, according to mbl.is.
Grímur Sæmundsen, the company’s chairman, founder and largest owner, said formal preparations for the plan began in May. Blue Lagoon first considered a stock market listing in 2020, but the pandemic intervened. It resumed preparations in 2023 with a view to listing in spring 2024, but volcanic activity delayed the plan. The listing process has now begun, he said.
Chief Executive Sigríður Margrét Oddsdóttir said Blue Lagoon was 34 years old and had recorded average annual revenue growth of 11%. The company plans to raise €105 million, or nearly ISK 15 billion, in new equity to strengthen the business and give individual investors a chance to participate in its growth.
After its planned acquisition of Arctic Adventures, the group expects to generate €291 million, or about ISK 40 billion, in revenue next year. Arctic Adventures has 315 hectares of land at Fjaðrárgljúfur, one of Iceland’s most popular destinations, as well as ownership of Kerið and responsibility for operating the Lava Tunnel, also known as Raufarhólshellir.
Blue Lagoon sees Þjórsárdalur valley as the group’s next flagship development. Plans there include the Mountain Retreat luxury hotel, Fjallaböðin baths, a visitor centre, a campsite and 40 cabins. The project is estimated to cost €138 million, about ISK 19 billion, with 65% expected to be completed by the end of this year. It is due to open in spring 2028.
The company is also developing plans for Glacier Baths and Glacier Retreat at Hoffell, where it has secured hot water. Environmental assessment and design work are under way. Oddsdóttir said the company wanted to position Iceland as a leading destination for wellness and experiences, citing its nature, geothermal energy, clean air, safety and high quality of life.