Top Nordea Investor Sells $1.7 Billion Stake on Road to Exit (1)

The biggest shareholder in Nordea Bank Abp offloaded another chunk of its stake as it moves ahead with a planned exit from the Nordic region’s largest bank.

Sampo Oyj sold 162 million shares in Nordea to institutional investors for 8.50 euros each, equivalent to 4% of the bank, reducing its holding to 11.9%, it said on Wednesday. The sale brought in gross proceeds of almost 1.4 billion euros ($1.7 billion).

The divestment has been on the cards since November, though Sampo only made clear last week it was intending to sell the entire holding, due in part to a Finnish ...