Noba Bank Shares Surge 30% on Debut in Win for Stockholm (3)

Shares in financial services firm Noba Bank Group AB surged in their Stockholm debut, boosting this year’s top European venue for initial public offerings ahead of a blockbuster listing by Verisure Plc.

The stock closed at 90.99 Swedish kronor ($9.65) on Friday, 30% above its 70 kronor offer price. That marked the strongest first-day gain for a European IPO that raised more than $500 million since Renk Group AG’s 2024 debut, according to data compiled by Bloomberg. Noba Bank shareholders, including private equity firm Nordic Capital and Sampo Oyj, raised about 7.6 billion Swedish kronor in the offering.

The ...