By Dominic Chopping

STOCKHOLM--Sweden's Trygg-Stiftelsen foundation late Tuesday sold a 3.44% stake in Skandinaviska Enskilda Banken AB for 9 billion Swedish kronor ($860 million).

The foundation said the sale of 75 million A class shares leaves it with a holding of 17 million shares, or a 0.78% stake.

The shares were sold through an accelerated book-building to Swedish and international institutional investors at a price of SEK120 a share, it added.

Before the sale, Trygg-Stiftelsen had been SEB's fourth largest sharehholder.

At 1048 GMT, shares in SEB traded 2.9% lower at SEK122.50 in Stockholm.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

February 01, 2023 07:19 ET (12:19 GMT)