A SUPPLEMENT TO EUROMONEY/MARCH 1998: NORDIC CAPITAL MARKETS
To bankers from outside the region, the Nordic block (comprising Denmark, Finland, Iceland, Norway and Sweden) has long seemed to present two faces. It is sassy and sophisticated when raising capital in the international markets but soporifically parochial at home. It is far ahead of the rest of continental Europe in its willingness to embrace new structures like tier-one capital and mortgage-backed bonds, yet it still clutches on to an archaic system of A and B class shares which give one shareholder 100 times more voting power than another.
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