March 22, 2018 / 9:27 PM / a year ago

Dutch NIBC bank shares priced at 8.75 euros in initial public offering

AMSTERDAM (Reuters) - The Dutch bank NIBC said on Thursday it had priced shares at 8.75 euros ($10.77) in its initial public offering, at the bottom of an indicated range of 8.75-10.25 euros.

The price values the bank’s equity at 1.28 billion euros (£1.11 billion).

CEO Paulus de Wilt said in a statement the offering had strong retail demand “despite heightened market volatility in recent days”.

Owner JC Flowers will sell a 25 percent stake in the bank, raising 320 million euros.

The bank is known as a mortgage broker and lender to small and medium-sized corporate borrowers in the Netherlands, Germany, Britain and Belgium.

Shares are set to begin trading on Friday.

Reporting by Toby Sterling; Editing by Kevin Liffey

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below