Persistent increased interest in Nordea shares, still in Swedish government's purse
Tuesday, 24 September 2013
The Swedish government has made it clear that it wants to get ride of what
it still owns as shares in the Nordic country's biggest bank,
Nordea. After the close of trading on Tuesday, the government announced
its intention to sell the its entire remaining shareholding, just over
7 percent of Nordea. Reports hold that demand is expected to be great.
"Many analysts have recommended Nordea right now and its shares are
popular. I would be surprised if it would prove difficult for the state
to sell. We will probably be seeing a lot of interest from both in the
Nordic region and beyond, "said an analyst who spoke to the Swedish
business daily Dagens Industri.
When the Swedish government sold 6.4 percent of its stake in Nordea
last June several funds management consortiums were among the buyers,
such as Saudi Arabia's central bank.
The larger shareholder in Nordea, Finnish Sampo, with 21.4 percent of
the capital, is not clears as to whether this time they'll want to
increase their stake to 25 percent. Should such a thing happens, then
Sampo will be classed as a Bank Holding Company, in accordance with
U.S. regulations. That will mean that in turn Sampo will face strong
restrictions in the investment activity and would lead to a more
comprehensive reporting to U.S. authorities, write Swedish business
daily, Dagens Industri.
"There was a reasonable explanation for why Sampo did not buy the last
time the state sold shares. It has not affected interest in Nordea,
"says the analyst to the paper.
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