Kromann Reumert has assisted the Joint Global Coordinators and Joint Bookrunners
Kromann Reumert has assisted the Joint Global Coordinators and Joint Bookrunners in a private placement of 8,000,000 treasury shares in Pandora A/S through an accelerated book-build that raises gross proceeds of approximately DKK 1.8 billion.
Immediately following its release of the interim financial report for Q1 2020 published yesterday, Pandora A/S also announced initiation of a private placement of up to 8,000,000 treasury shares, at a price to be determined through an accelerated book-building process.
The private placement was completed yesterday and has been priced at DKK 226 per share. The accelerated book-building generated gross proceeds of approximately DKK 1.8 billion and was oversubscribed by more than seven times.
Nordea, Morgan Stanley and BNP Paribas acted as Joint Global Coordinators and Joint Bookrunners, and Danske Bank as Joint Bookrunner in connection with the private placement.
Pandora A/S' shares are admitted to trading and official listing on Nasdaq Copenhagen.
Christina Bruun Geertsen and Helene Westergaard Jacobsen have assisted the Joint Global Coordinators and Joint Bookrunners in the transaction.
Pandora designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through 7,400 points of sale, including more than 2,700 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 28,000 people worldwide and crafts its jewellery at two LEED certified facilities in Thailand using mainly recycled silver and gold. The company plans to be carbon neutral by 2025 and has joined the Science Based Targets initiative to reduce emissions across its full value chain. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 21.9 billion (EUR 2.9 billion) in 2019.