Clifford Chance advised Swedish TF Bank AB (publ) in connection with its successful initial public offering and listing on Nasdaq Stockholm. TF Bank is an online-based niche-bank offering consumer banking services through a highly automated, in-house developed, IT platform.

The offering comprised 5,661,553 existing shares offered by certain shareholders of TF Bank at a price of SEK 77 per share to the general public in Sweden and institutional investors in Sweden and abroad. Under the assumption that the over-allotment option with respect to an additional 849,126 shares granted to cover oversubscriptions is exercised in full, the total value of the offering will be approximately SEK 501 million.

Carnegie Investment Bank AB acted as global coordinator and joint bookrunner and ABG Sundal Collier AB was a joint bookrunner in the offering.

The Clifford Chance team included partner Sebastian Maerker and counsels Barbora Moring and Dr. Axel Wittmann (all Banking & Capital Markets, Frankfurt).