|Vision Capital realises 5.2x return on its investment in Nordax||February 2017|
Vision Capital today announced that it has fully realised its investment in Nordax Group AB (publ) ("Nordax"), a leading niche bank in the Nordic region. The placement of its remaining shareholding in the company crystalises a 5.2x return on the investment.
Vision Capital acquired a majority stake in Nordax in July 2010. During Vision Capital's ownership, Nordax successfully implemented several important strategic initiatives to improve its business, including expansion into Germany and obtaining a banking licence from the Swedish FSA.
Nordax successfully listed on Nasdaq Stockholm on 17 June 2015 with the IPO several times oversubscribed and priced at the top of the range. Vision Capital sold down its remaining shareholding in Nordax in three tranches; in addition to the sale of shares announced today, Vision Capital previously sold a 13.5% stake on 14 September 2016 and a 9% stake on 15 November 2016.
14 February 2017