STOCKHOLM (Reuters) – Digital banking group NOBA has set the price in a planned initial public offering on the Stockholm bourse at 70 crowns per share, valuing the firm at 35 billion crowns ($3.73 billion), it said on Friday.
NOBA, which unveiled earlier this month it planned to list on the Nasdaq Stockholm exchange in the third quarter, said in a statement it expected trading in its shares to start September 26.
Its listing plans make it the second major Swedish financial services group to opt to go public this year, with buy now, pay later lender Klarna making its New York debut earlier this month.
The NOBA Group is controlled by private equity firm Nordic Capital’s funds and Finnish insurer Sampo Oyj, according to information on its website.
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 = 9.3897 Swedish crowns)
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
