Latham & Watkins, Hannes Snellman, Gernandt & Danielsson and Milbank LLP advised on NOBA Bank’s IPO on Nasdaq Stockholm.
NOBA has grown into the leading specialist bank in the Nordic region and one of the leading specialist banks in Europe, with a loan book of SEK 128 billion and serving over two million customers through its three brands Nordax Bank, Bank Norwegian, and Svensk Hypotekspension as of June 30, 2025.
Latham & Watkins has advised NOBA Bank, Nordic Capital, and Sampo, on NOBA Bank’s initial public offering (IPO) on Nasdaq Stockholm. The IPO raised SEK 7.6 billion (approximately US$810 million) and comprised 108,695,651 existing shares in the company, corresponding to a total of 21.7% of the total number of outstanding shares in the company. The market capitalization of NOBA, based on the IPO price of SEK 70 per share, is approximately SEK 35 billion (approximately US$3.7 billion).
The Latham team was led by London partner James Burnett, with associates Sarah Youssefi and Rebecca Reeve. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Fangyuan (Farrah) Yan, and on financial regulatory matters by London partner Nicola Higgs, with associate Jonathan Ritson-Candler.
Hannes Snellman acted as Finnish counsel to Sampo plc, a selling shareholder, in the sale of its shares in NOBA Bank Group AB (publ) (“NOBA Bank”) in connection with the listing of NOBA Bank’s shares on Nasdaq Stockholm.
Hannes Snellman’s core advisory team comprised Partner Sonja Siggberg and Counsel Viivu Kilkku.
Gernandt & Danielsson Advokatbyrå and Milbank LLP are legal advisors to the Joint Global Coordinators and Joint Bookrunners.
Gernandt & Danielsson advises the managers in connection with the IPO and listing of NOBA on Nasdaq Stockholm. DNB Carnegie Investment Bank AB (publ), Goldman Sachs Bank Europe SE and J.P. Morgan SE (Joint Global Coordinators) as well as ABG Sundal Collier AB, BNP PARIBAS, Citigroup Global Markets Limited, Danske Bank A/S, Danmark, Sverige Filial, Nordea Bank Abp, filial i Sverige, Skandinaviska Enskilda Banken AB (publ) and UBS Europe SE (Joint Bookrunners) are managers in connection with the listing and the offering.
The Gernandt & Danielsson team comprised of partners Carl Westerberg, Gustav Skogö Nyvang and Daniel Sveen as well as associate Siri Telmen.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
