NNIT, a leading IT service provider and consultant based in Gladsaxe, was today admitted to trading on Nasdaq Copenhagen under ticker “NNIT” after an IPO attracting more than 60,000 new shareholders into its base

The final offer price was set at DKK 125 per share, giving NNIT a market capitalisation of DKK 3,125 million. Opening price at Nasdaq Copenhagen was DKK 170 per share bringing market cap up by 36 per cent to DKK 4,250 million.

The offering attracted substantial interest from both Danish retail and Danish and international institutional investors and shares in NNIT have been allocated to more than 60,000 new investor accounts. Approximately 15% of the offer shares (excluding offer shares in the overallotment option) have been allocated to retail investors in Denmark and the remaining offer shares have been equally allocated between Nordic and international institutional investors. Danish investors received the majority of the offer shares allocated to Nordic investors.

Novo A/S will become the parent company of NNIT after having acquired 6,375,000 shares in NNIT, equivalent to 25.5% of NNIT’s share capital, from NNIT’s previous sole shareholder, Novo Nordisk. The total consideration paid by Novo A/S amounts to approximately DKK 796.9 million. Novo A/S and Novo Nordisk have entered into a shareholders’ agreement regulating their shareholdings in NNIT.

The free float, representing the proportion of the share capital held by new investors, excluding Novo A/S, will be 40% prior to any exercise of the overallotment option and 46% assuming full exercise of the overallotment option. Novo Nordisk will, upon completion of the offering, hold 7,875,000 NNIT shares, assuming no exercise of the overallotment option, equivalent to 31.5% of the share capital of NNIT. If the overallotment option is exercised in full, Novo Nordisk will hold 6,375,000 NNIT shares equivalent to 25.5% of the share capital of NNIT.

Novo A/S, a private limited liability company fully owned by the Novo Nordisk Foundation, is the holding company in the Novo Group, and responsible for managing the Foundation’s assets, which are currently valued at more than USD 40 billion.

Besides being the major shareholder in Novo Nordisk, Novozymes and NNIT, Novo A/S provides seed and venture capital to development stage companies and takes significant ownership positions in well-established companies within life science and biotechnology, as well as manages a broad portfolio of financial assets. Novo A/S, as an international investor, work out of Copenhagen, San Francisco and London. Their teams of scientific and commercial experts actively support their portfolio of projects and companies, and manage a range of financial investments.

Novo A/S is one of the key players in the international life science investment industry. Since the beginning in 1999, the company have invested approx. USD 2 billion in companies across Scandinavia, Europe and North America. The portfolio spans the entire range of life science development. From budding ideas that need financial and commercial nurturing, to well-established biomedical and bioindustrial companies that call for significant capital boosts to accelerate growth.

Novo A/S are actively involved in their portfolio companies and have the financial strength to stay the course. In addition to financial backing, Novo A/S provide the managerial, commercial and strategic support the project or company needs to develop to the next stage.

Bruun & Hjejle acted as legal counsel to Novo A/S.