Latham & Watkins Advised on NOBA Bank’s SEK 7.6 Billion Initial Public Offering
The global Law firm Latham & Watkins 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, corresponding to 21.7% of the total outstanding shares of 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).
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.
The Latham & Watkins team advising on the matter was led by James Burnett (Partner, London), with support from Sarah Youssefi (Associate) and Rebecca Reeve (Associate). Advice on tax matters was provided by Elena Romanova (Partner, New York), supported by Fangyuan (Farrah) Yan (Associate). Financial regulatory matters were advised on by Nicola Higgs (Partner, London), with assistance from Jonathan Ritson-Candler (Associate).
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