(Bloomberg) -- Swedish lender NOBA Bank Group AB says it’s evaluating a possible initial public offering, confirming an earlier report by Bloomberg News.
“The strategic review that was announced in Q3 2023 was expanded to also include a potential public listing of the company,” the group said as part of its quarterly earnings report, published on Wednesday.
Owner Nordic Capital Ltd. has lined up banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Carnegie Investment Bank AB to work on a potential listing of the business, people familiar with the matter told Bloomberg last week. NOBA could be valued at €3 billion to €4 billion ($3.3 billion to $4.4 billion) in an IPO, according to the people.
The Stockholm-based bank reported results for the second quarter that showed operating income increasing to 2.4 billion Swedish kronor ($236 million) compared with 2.1 billion kronor a year ago. Net profit for the three months to June totaled 587 million kronor while its Common Equity Tier 1 capital ratio was 13.37%.
“We have today presented our strongest quarterly results to date,” NOBA Chief Executive Officer Jacob Lundblad said in emailed comments. “It is satisfying that we can show growth and increased results across all our segments.”
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