JPMorgan, Morgan Stanley and Danske Bank chosen for Nykredit IPO

COPENHAGEN (Reuters) – Danish mortgage lender Nykredit and its owner Forenet Nykredit have chosen U.S. banks JPMorgan and Morgan Stanley and Danske Bank as joint global coordinators for its upcoming initial public offering (IPO).

Nykredit said in February 2016 it was aiming at an IPO in the following 12 to 24 months. Reuters reported in July that Morgan Stanley was seen as standing a good chance of securing a lead role.

Nykredit CEO Michael Rasmussen told Reuters last month that its positive Q2 report showed that the company would be ready for an IPO around March or April next year but that the timing would depend on the market situation.

(Reporting by Teis Jensen, editing by Louise Heavens)