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