March 22, 2018 / 9:22 PM / 8 months ago

Dutch NIBC bank shares priced at 8.75 euros in initial public offering

AMSTERDAM, March 22 (Reuters) - The Dutch bank NIBC said on Thursday it had priced shares at 8.75 euros ($10.77) in its initial public offering, at the bottom of an indicated range of 8.75-10.25 euros.

The price values the bank's equity at 1.28 billion euros.

CEO Paulus de Wilt said in a statement the offering had strong retail demand "despite heightened market volatility in recent days".

Owner JC Flowers will sell a 25 percent stake in the bank, raising 320 million euros.

The bank is known as a mortgage broker and lender to small and medium-sized corporate borrowers in the Netherlands, Germany, Britain and Belgium.

Shares are set to begin trading on Friday. ($1 = 0.8127 euros) (Reporting by Toby Sterling; Editing by Kevin Liffey)

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