Davis Polk advised Novo Nordisk A/S and NNIT A/S on the initial public offering of shares and listing on the NASDAQ OMX Copenhagen under the symbol “NNIT.” The offering comprised a sale of 10,000,000 shares sold by NNIT’s sole shareholder, Novo Nordisk. There is an overallotment option in respect of an additional 1,5000,000 shares. With an offer price set at DKK 125 per share, the total gross proceeds amounted to DKK 1.25 billion (approximately US$182 million), assuming no exercise of the overallotment option. In addition, Novo Nordisk currently sold at the IPO offer price 25.5% of the share capital of NNIT to its major shareholder, Novo A/S. 

Danske Bank A/S and Morgan Stanley & Co. International plc acted as joint global coordinators and joint bookrunners and Skandinaviska Enskilda Banken, Danmark, filial af Skandinaviska Enskilda Banken AB (publ), Sverige acted as co-lead manager.  

NNIT is one of Denmark’s leading IT service providers and consultancies. NNIT offers a wide range of IT services and solutions to its customers, primarily in the life sciences sector in Denmark and internationally and to customers in the public, enterprise and finance sectors in Denmark. As of December 31, 2014, NNIT had more than 2,400 employees.  

The Davis Polk corporate team included partner Reuven B. Young and associate Cherie H. Yang. Partner John D. Paton and associate Omer Harel provided tax advice. Counsel Jeanine P. McGuinness provided FCPA and OFAC advice. Associate Jake H. Wang provided 1940 Act advice. Members of the Davis Polk team are based in the London, New York and Washington DC offices.