Bank Norwegian's owner plans initial public offering in second quarter

Norwegian Finans Holding ASA, the owner of rapidly growing Bank Norwegian, expects to have raised $36 million from a share sale on Tuesday and plans to list on the Oslo stock exchange later this year, the company said in a statement. Bank Norwegian recently expanded to Denmark and Finland from its origins in Norway and Sweden, and said it plans to pursue solid growth in all four countries.
The bank's lending rose by 60 percent in the 12 months to the end of March to a total of 16.5 billion Norwegian crowns ($1.98 billion).
An initial public share offering is expected to take place in the second quarter of 2016, Norwegian Finans Holding said.