Nasdaq Copenhagen: ID-Sparinvest resumes valuation, trading resumes.

Sparinvest, a subsidiary of Sparinvest S.A., Luxembourg, has announced that Nasdaq Copenhagen's rules for the issuance of investment certificates have been met, allowing for the recalculation of internal values for certain fund units. The internal values will be reported to Nasdaq Copenhagen, and trading in the affected units has been resumed. The affected units include several Sparinvest funds.

Nykredit Realkredit A/S has extended the offer period concerning its recommended, voluntary public tender offer for Spar Nord Bank A/S until 20 May 2025. The offer, initially set to expire on 19 February 2025, has been extended multiple times, with the latest extension announced on 23 April 2025.

The offer price for Spar Nord Bank shares has been increased to DKK 210.50 per share, valuing the aggregated issued share capital of Spar Nord Bank at DKK 24.7 billion. The extension is aimed at providing Nykredit with additional time to obtain the necessary approval from the Danish Competition and Consumer Authority, which is required to complete the offer.

Nykredit currently holds 32.79% of the shares in Spar Nord Bank. According to a supplement dated 19 March 2025, preliminary acceptances showed that more than 46% of the share capital had been submitted, and Nykredit's ownership interest, along with irrevocable undertakings and binding acceptances, totalled more than 80% of the total share capital, indicating that the 67% acceptance limit stated in the offer has been reached.

The final result of the offer will be determined on the expiry of the offer period and published in accordance with section 21(3) of the Danish Takeover Order. If the approval from the Danish Competition and Consumer Authority has not been granted by the expiry of the extended offer period, Nykredit expects to extend the offer period further.

Nykredit intends to delist Spar Nord Bank from trading on Nasdaq Copenhagen and complete a compulsory acquisition of the remaining Spar Nord Bank shareholders, provided that Nykredit has obtained the necessary ownership interest, and the offer has been completed. Spar Nord Bank shareholders who have opted not to accept the offer should expect that Nykredit will take steps to combine Nykredit Bank A/S and Spar Nord Bank, which will result in a further increase in Nykredit’s ownership interest in Spar Nord Bank.

The full terms and conditions of the offer are contained in the Offer Document as amended by the Supplement. The Offer Document and the Supplement are published in the Danish FSA’s OAM database and can also be accessed at Nykredit’s and Spar Nord Bank’s investor relations websites.

References:
[1] https://www.tradingview.com/news/reuters.com,2025-04-23:newsml_GNE3Gv4Xs:0-reg-nykredit-extends-the-offer-period-concerning-the-recommended-voluntary-public-tender-offer-for-spar-nord-bank-a-s-until-20-may-2025-nykredit-realkredit-a-s/