FINLAND

摘要

Finnish insurer Sampo sold 4% of NORDEA last Tuesday evening, raising €1.4bn as it continues to reduce its stake in the Nordic bank. The deal was expected, a banker involved said, with Sampo having previously said it will gradually wind down its stake. The sale came around six months after its previous sell-down in November, which also comprised 4% of the bank. Shares have risen substantially since then. A total of 162m shares were sold on Tuesday at €8.50 each, a 3.2% discount to last Tuesday's close of €8.7843. Bank of America, Citigroup and Barclays were joint bookrunners. The shares stayed well above ABB pricing last Wednesday, and ended the day at €8.75, just 0.4% down on the day. Shares in Nordea have risen by about a third since January and are back above their levels in early 2020. The deal drew a good mix of long-only names and hedge fund money, with the top 10 orders taking about 50% of the deal.