Digital Bank NOBA's IPO Oversubscribed, Bookrunners Confirm

According to a Reuters report, digital banking group NOBA's initial public offering (IPO) on the Stockholm stock exchange has been multiple times oversubscribed, as confirmed by a bookrunner. This indicates significant investor interest in the company's public debut. NOBA has set its IPO price at 70 Swedish kronor per share, valuing the company at 35 billion kronor (approximately $3.72 billion). Trading of NOBA's shares is scheduled to begin on September 26. The strong demand is seen as the latest evidence of growing investor confidence in European listings following a period of market volatility. NOBA, controlled by Nordic Capital and Sampo Oyj, operates across the Nordic region and other European countries. Its brands include Nordax Bank and Bank Norwegian. This IPO follows the recent New York debut of Klarna, another prominent Swedish financial services firm.