Morgan Stanley looks set to boost its ranking in European equity capital markets league tables after winning a mandate to float TrygVesta, a Danish insurance group planning Denmark's largest initial public offering since 1994. Nordea, the Nordic bank, is joint bookrunner.

TrygVesta's owner, Tryg i Danmark, plans to list 40% of the company on the Copenhagen Stock Exchange between October and December. Analysts have valued the whole company, Denmark's second-largest general insurer, at up to Dkr 20bn (€2.7bn).