Private company Chr. Hansen goes public
Chr. Hansen announced on Monday its intention to launch an Initial Public Offering and to be listed on the NASDAQ OMX Copenhagen. The Danish firm also said that it aims to raise 450 million euro through primary sale.
"The contemplated Initial Public Offering is expected to generate primary proceeds of around €450 million for the repayment of certain indebtedness and is contemplated to include a partial secondary sell-down by our existing shareholders. The proposed offering is the next step in our history, providing us with a strong platform for continued future growth", stated the company.
Company CEO Lars Frederiksen commented: "As the market leader in many of our product areas and strategic supplier to leaders in our customers’ industries, Chr. Hansen is well positioned to capitalize on the attractive growth fundamentals in bioscience based products for the food, nutritional and animal feed industries.
“A possible flotation would mark an important step in our future development and NASDAQ OMX would be the natural listing location for Chr. Hansen. It would provide us with the right platform to grow both organically and through targeted bolt-on acquisitions and I am confident that being a public company would provide both local and international investors in Chr. Hansen with an opportunity to share in our future growth".
Chr. Hansen and PAI partners have appointed Credit Suisse Securities (Europe) Ltd and J.P. Morgan Securities Ltd. as Joint Global Coordinators for the proposed Initial Public Offering.
Credit Suisse, Danske Markets (Division of Danske Bank A/S), J.P. Morgan, Morgan Stanley & Co. International plc and SEB Enskilda (part of Skandinaviska Enskilda Banken AB (publ)) have been appointed as Joint Bookrunners.
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