Realdania raises $950m from Danske sale

06 Mar 2013

Realdania, the Danish foundation, surprised investors with the launch of the Dkr5.46bn ($954m) sale of half its Danske Bank stake on Tuesday evening, but quickly found enough demand to cover the deal at a tight price.

It had mandated global co-ordinator JP Morgan and joint bookrunner Citi on an agency basis for 52m shares, 5.2% of the bank and they launched the deal after the Danish close, with reference to market.

Books were covered a few hours later and price guidance was given before the ...

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