Noba's IPO Oversubscribed 20x in Stockholm: Bloomberg.com

NOBA Bank Group AB, a Scandinavian lender, experienced significant investor demand during its initial public offering (IPO) in Stockholm. Sources familiar with the matter indicate that orders for the IPO exceeded the available stock by a factor of approximately 20, excluding commitments from cornerstone investors. The company commenced trading on Friday, with shares closing 30% above the initial offer price. Shareholders, including Nordic Capital and Sampo Oyj, raised 7.6 billion Swedish kronor ($807 million) before the overallotment option. This successful listing is considered one of the largest IPOs in Europe this year to date.