April 6, 2016 / 7:00 AM / 4 years ago

Swedish bank Resurs aims for market listing in Q2

STOCKHOLM, April 6 (Reuters) - Swedish banking group Resurs Holding intends to float its shares on the Stockholm bourse in the second quarter of this year, with a likely market valuation of up to 12 billion crowns ($1.5 billion), it said on Wednesday.

Resurs is set to become the biggest company to list in Stockholm so far this year. In the wake of volatile equity markets, there have been just two initial public offerings (IPOs) on the main list of the bourse, compared with four in the same period last year.

Resurs, owned by private equity firm Nordic Capital, made an adjusted operating profit of 942 million Swedish crowns last year and has a loan portfolio of around 18 billion crowns.

Three cornerstone investors are set to buy 11.5 percent of shares in Resurs if it gets a market capitalisation of not more than 12 billion crowns, Resurs said.

The three cornerstone investors are Swedbank Robur, The Second Swedish National Pension Fund, and Handelsbanken Fonder.

Goldman Sachs, Morgan Stanley and Carnegie will lead the listing which will consist only of existing shares.

Sources told Reuters in November that Nordic Capital had picked those banks to lead the listing of Resurs.

$1 = 8.1416 Swedish crowns Reporting by Sven Nordenstam; Editing by Simon Johnson and Mark Potter

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