Prior to the stock market opening, the bank announced that the interest in investing in the company has been "very large" ahead of the listing, the bank writes in a press release.
"The interest in the offer has been very large among both Swedish and international institutional investors, as well as the general public in Sweden and Denmark, and was oversubscribed several times", the bank writes.
The subscription price was, as previously communicated, 70 kronor per share, which means a market value of the bank of 35 billion kronor. At a price of 88 kronor, the market value is 44 billion.
The valuation can be compared to the three major Swedish banks - Handelsbanken, SEB and Swedbank - which are valued at 242-372 billion kronor.
Noba operates its banking business with brands such as Nordax Bank, Bank Norwegian and Svensk Hypotekspension. Major owners behind Noba are the venture capital company Nordic Capital and the insurance giant Sampo.
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