Scandinavian Tobacco Group launches Initial Public Offering
10 February 2016
On 10 February 2016 Scandinavian Tobacco Group, the tobacco producer, was admitted to trading and official listing on Nasdaq Copenhagen. Plesner acted as legal advisor to JP Morgan, Nordea, Deutsche Bank and Carnegie in connection with the listing.
The listing comprises 35.6m shares, corresponding to 35.6% of the share capital in Scandinavian Tobacco Group (STG). The shares are sold by Skandinavisk Holding II A/S (indirectly owned by the Obel Family Foundation and the Augustinus Foundation) and Swedish Match. In addition, the underwriters JP Morgan, Nordea, Deutsche Bank and Carnegie have a customary over-allotment option of up to 4.4m shares, entailing that the total offering will be up to 40% of outstanding shares of STG.
STG is a world leading producer of cigars, pipe tobacco and fine-cut tobacco and has 8,000 employees globally. The group primarily sells to Europe and the US market. In 2014 sales amounted to more than DKK 6.1bn and a net profit of DKK 640m.