SBB owns 44.8 percent of the shares in PPI. As of June 30, 2023, PPI owned Norwegian properties worth approximately NOK 9 billion. 92 percent of PPI's rental income comes from the Norwegian state or Norwegian municipalities.

To strengthen PPI's platform and deleverage PPI, SBB and PPI are discussing a transfer of parts of SBB's Norwegian property portfolio and SBB's Norwegian organization to PPI in connection with the IPO.

"PPI's properties offer attractive return and low risk in rental income. The contemplated transaction enables access to equity and credit markets and facilitates the desired investment grade risk level. SBB does not intend to decrease its ownership, the ambition is to support PPI in the long-term and thus benefit from the strong fundamentals that this investment offers," says Leiv Synnes, CEO of SBB.

Arctic Securities AS, DNB Markets, a part of DNB Bank ASA, Danske Bank A/S, Norwegian Branch and Nordea Bank Abp, filial i Norge have been chosen as advisory banks and Advokatfirmaet Thommessen AS has been engaged as legal advisor in connection with the contemplated IPO.