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Shares of Noba Bank Group AB exploded out of the gate on Nasdaq Stockholm on Friday, jumping 21% above offer price and throwing Sweden straight to the center of Europe’s IPO map. The stock opened at 84.90 kronor, beating its set price of 70 kronor, and brought in 7.6 billion kronor (around $804 million) for sellers like Nordic Capital and Sampo Oyj. The company is now valued at 35 billion kronor, and its debut just became the measuring stick for what’s coming next in Europe’s deal pipeline. Noba waited earlier this year, choosing to sit out the market’s swings. But now, with investors starting to lean back into risk, the IPO landed during a stretch of rising confidence. That mood is being tested with a massive €3.1 billion ($3.6 billion) listing from Verisure Plc just around the corner. Noba’s showing is already being treated as the trial balloon ahead of that deal. The group runs three main businesses: Nordax Bank, Bank Norwegian, and Svensk Hypotekspension, all bundled under the Noba name. The stock is listed under the ticker NOBA. Big players show up as IPO demand goes beyond expectations Noba’s IPO was oversubscribed “several” times, the company said. Buyers like OP Financial Group, DNB Asset Management, and Handelsbanken Fonder bought 3.2 billion kronor worth of shares. The deal was arranged by DNB Carnegie Investment Bank, Goldman Sachs, and JPMorgan Chase. The company’s push into the public markets lands during one of the busiest stretches for IPOs in Europe in over a year. “Noba has likely received a boost from the fact that niche banks have performed quite strongly on the stock market this year,” said Robert Oldstrand, equity strategist at Swedbank AB. “With a relatively good risk mood in the market and a fairly optimistic outlook for the coming year,…

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Filed under: News - @ September 26, 2025 1:29 pm