Noba’s IPO Said to Draw 20 Times More Orders Than Stock Offered

NOBA Bank Group AB’s initial public offering in Stockholm attracted orders for about 20 times the stock available for purchase excluding commitments from cornerstone investors, according to people familiar with the matter.

The Scandinavian lender went public on Friday, closing 30% higher than its offer price. Shareholders including Nordic Capital and Sampo Oyj raised 7.6 billion Swedish kronor ($807 million) before the overallotment option, making it one of Europe’s largest such offerings so far this year.