OSLO (Reuters) -The share price of digital banking group NOBA rose 27% on its first day of trading on Friday following an initial public offering on the Stockholm bourse, valuing the company at 44.5 billion Swedish crowns ($4.71 billion). NOBA, controlled by private equity firm Nordic Capital and Finnish insurer Sampo, was the second major […]
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Digital bank NOBA soars 27% in Stockholm IPO debut
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OSLO (Reuters) -The share price of digital banking group NOBA rose 27% on its first day of trading on Friday following an initial public offering on the Stockholm bourse, valuing the company at 44.5 billion Swedish crowns ($4.71 billion).
NOBA, controlled by private equity firm Nordic Capital and Finnish insurer Sampo, was the second major Swedish financial services group to go public this year, with buy now, pay later lender Klarna making its New York debut this month.
NOBA’s shares traded at 88.95 Swedish crowns at 0716 GMT, up from 70 crowns in the IPO which the bookrunners earlier this week said had been multiple times oversubscribed by investors.
NOBA operates across the Nordic region under the brands Nordax Bank, Bank Norwegian and Svensk Hypotekspension, and offers credit cards in Germany as well as deposit products in Germany, Spain, the Netherlands and Ireland.
($1 = 9.4429 Swedish crowns)
(Reporting by Terje Solsvik, editing by Stine Jacobsen)