Vision Capital's Nordax seeks Stockholm listing

A prospectus for the IPO has yet to be released, but Morgan Stanley and Carnegie will be joint global coordinators, while Citigroup is running the book on the flotation and ABG Sundal Collier is co-lead manager.

Nordax is a consumer finance bank with operations in the Nordic region, offering personal loans of up to SEK 400,000 and retail deposit accounts. The bank has 95,000 customers in the Nordic countries and Germany, with a total loan portfolio of SEK 10.3bn as of 31 March 2015 and an operating profit of SEK 325m in 2014. Nordax was founded in 2001 and is headquartered in Stockholm, where it employs 200 people.

Vision acquired an 80% stake in the bank through its VCP VII fund in July 2010, with management, the company's founders and board members holding the balance.

Lazard is the financial adviser to both Nordax and Vision Capital.

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• Topics
• Nordics
• Financials
• Sweden
• IPO