Transaction: IPO and ECM Advisory
Date: July 2012
Deal value: EUR 24 million
Process: Placement of shares
Industry: Manufacturing

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Bang & Olufsen manufactures a highly distinctive and exclusive range of televisions, music systems, loudspeakers, telephones, and multimedia products that combine technological excellence with emotional appeal. The company’s products are sold by over 1,000 dealers in more than 100 countries in an extensive network of retail stores. Bang & Olufsen has more than 2,000 employees and is listed on NASDAQ OMX Copenhagen.
 
In 2011 Bang & Olufsen launched their Leaner, Faster, Stronger strategy which named expansion in China as a strategic priority. To accelerate this growth, the company decided to enter into a strategic partnership with leading Chinese distributor of luxury goods Sparkle Roll Holdings and leading China-Europe growth capital fund A Capital. The strategic partnership aimed at leveraging the resources and experience of the partners in distribution, branding and local operations and involved the strategic partners taking an equity stake in Bang & Olufsen through issue of new shares at market price with net proceeds of DKK 177m.
 
FIH Partners advised on the transaction structure, negotiations with the Chinese partners as well as the issuance of new shares.