STJ advised NOBA, Nordic Capital and Sampo on the c.$925m all-secondary listing of NOBA Bank Group AB on the Nasdaq Stockholm
2025
We are pleased to have advised NOBA, Nordic Capital, and Sampo on the c.$925m all-secondary listing of NOBA Bank Group AB on the Nasdaq Stockholm stock exchange.
The offering – the largest on the exchange since 2021 - was multiple times oversubscribed, attracting strong interest from Swedish, Nordic, and international investors, as well as Nordic retail investors. As a result of the Offering, NOBA will have more than 33,000 shareholders.
STJ advised on all aspects of the IPO, having been appointed by the shareholders in early 2024. STJ’s advice helped produce an optimised equity story which was marketed to a strong cohort of investors in pre-marketing. STJ’s advice on pricing, sizing, and allocation resulted in an extremely successful listing for NOBA – the optimised offering process resulted in extraordinary size and quality of investor demand for a sought-after stock, and provides a core base of shareholders allowing NOBA to build for the future.
