NOBA targets Nasdaq Stockholm listing with $3.74bn valuation

Core Viewpoint - Digital banking group NOBA plans to list on Nasdaq Stockholm in Q3 2023 with an anticipated valuation of approximately Skr35bn ($3.74bn) [1][5] Group 1: Listing Plans and Valuation - NOBA is the second major Swedish financial services entity to pursue a public listing in 2023, following Klarna's debut on the New York Stock Exchange [1] - The cornerstone agreements have been secured with OP Cooperative, DNB Asset Management, and Handelsbanken Fonder, involving share subscriptions worth up to Skr3.18bn [2] - The initial public offering (IPO) will reflect an equity value of up to Skr35bn [2] Group 2: Company Background and Growth Potential - NOBA serves over two million customers and is recognized as one of Europe's leading specialist banks with impressive profitable growth [3] - The company operates under the brands Nordax Bank, Bank Norwegian, and Svensk Hypotekspension, and offers credit cards and deposit products across several European countries [4] - NOBA sees substantial growth opportunities in existing markets and plans to expand into corporate banking for SMEs [4] Group 3: Strategic Intentions - The public listing is expected to elevate NOBA's profile and brand while providing new shareholders the opportunity to participate in its growth journey [5]