[ad_1]
Nordnet is on its way to the Stockholm Stock Exchange, and the price may quadruple after three and a half years in private ownership. Today’s owners will sell shares for up to SEK 9.8 billion.
Lars-Åke Norling, CEO of Nordnet.
Nordnet.
Published:,
Online broker Nordnet plans to return to the Stockholm Stock Exchange. The first trading day is expected to be November 25.
According to the listing prospectus published on Sunday, the price per share will be set between 88 and 104 Swedish crowns. This gives a total market value of all outstanding shares of the company of around 22-26 billion SEK.
Nordnet does not issue new shares, but the current owners will sell parts of their shares.
It sells for up to 9.78 billion.
The sellers are the investment fund Nordic Capital and Öhmangruppen, who bought the online broker on the stock exchange three and a half years ago.
At the time, Nordnet was priced at NOK 6.6 billion. Now the price can be almost four times higher.
No new anchor investors or key investors are featured in the prospectus.
Nordic Capital and Öhman will sell a total of 94 million shares, and at the proposed price they will raise between SEK 8.27 and 9.78 billion on the sale.
This corresponds to about 38 percent of the total number of Nordnet shares.
– There has been great interest in Nordnet’s upcoming IPO from both Nordic and international investors, writes Nordnet CEO Lars-Åke Norling in a comment.
Nordnet announced the stock exchange plans at the end of August. At the time, analysts estimated a possible price of NOK 20 billion.
also read
Nordnet clients traded Nel shares worth 1 billion
Growing Thanks to Increased Stock Market Interest
The online broker has seen profits skyrocket this year, in part as a result of small savers storming the stock market during the crown crisis.
Nordnet reported an after-tax profit of SEK 277 million in its third quarter report, compared to NOK 81 million in the corresponding period last year.
Nordnet was listed on the Stockholm Stock Exchange in 1999, but in 2016 the owners carried out a joint takeover bid that led to the company being delisted from listing. The business has grown since then and in 2018 Nordnet acquired the Norwegian online broker Netfonds.
