October 27, 2017 / 6:37 AM / a year ago

Denmark's Nykredit lifts guidance ahead of planned IPO

COPENHAGEN, Oct 27 (Reuters) - Denmark’s largest mortgage lender Nykredit IPO-NYKRD.CO, which is expected to list in Copenhagen next year, lifted its financial guidance for 2017 on Friday.

Based on preliminary figures for the third quarter, the company said it now expects profit from its core business to be between 8.2 billion and 8.5 billion Danish crowns ($1.28-1.33 billion) up from earlier guidance of between 7 and 8 billion crowns.

Nykredit said last month it had chosen U.S. banks JPMorgan and Morgan Stanley and Danske Bank as joint global coordinators for its upcoming initial public offering.

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

$1 = 6.3929 Danish crowns Reporting by Teis Jensen. Editing by Jane Merriman

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