Nordic Capital's Nordnet lists on Nasdaq
Pan-Nordic digital savings and investment platform Nordnet has listed on Nasdaq Stockholm, generating a market capitalisation based on the IPO price of SEK96 per share of around SEK24 billion.
The offering attracted interest from Swedish and international institutional investors, as well as the public in Sweden, Norway, Denmark and Finland.
Tom Dinkelspiel, chairman of the board of Nordnet and representing the Öhman Group, commented that this listing on Nasdaq aims to democratise Nordnet's savings and investments.
Nordic Capital has previously invested in financial services companies including Resurs Bank, Nordax Bank, Bambora, Trustly and Max Matthiessen, which it backed in 2020.
In 2016, Nordnet was taken private by Nordic Capital and the Öhman Group with the aim to create a "best-in-class customer experience" in the digital savings sector.
As a result of investments and product innovation, Nordnet has seen an increase in customer activity, as well as an increase in market shares across the Nordic countries and an accelerating growth trajectory, according Nordic Capital.
Nordnet worked on advancing its sustainability agenda to further promote sustainable savings and democratise savings and investments in society overall.
The platform also invested in its organisation, which is led by a management team focused on scaling the platform and delivering profitable growth, according to the company.
In 2020, Nordnet reached one million customers, doubling its customer base since 2016 and as of 30 September 2020, Nordnet had SEK477.8 billion in savings capital.
“Nordic Capital invests in companies with the potential to become best-in-class, and Nordnet has gone from strength to strength during the past four years," said Christian Frick, partner at Nordic Capital Advisors.
"The people, technology and customer experience are now in place to take the company to the next level, and Nordnet is well positioned for future profitable growth," he added.