Pandora IPO

Pandora IPO
Oct 2010
Deal Value:
EUR 1.827 million

Prometheus Invest is a holding company controlled by Axcel, a Danish private equity firm. Until the IPO Prometheus Invest owned 100% of Pandora A/S, which was acquired in the beginning of 2008 when Axcel acquired 60% of Pandora from the founders. From its offices in Copenhagen and Stockholm Axcel focuses on mid-sized companies in Denmark and Sweden. PANDORA is a designer, manufacturer, marketer and distributor of hand finished and modern jewellery made from genuine materials. The company sells its jewellery in 47 countries on six continents through approximately 10,000 points of sale, including over 260 PANDORA branded concept stores and employs over 4,500 people worldwide. In H1 2010, PANDORA generated revenue of approximately DKK 2.6 billion and EBITDA of approximately DKK 1.0 billion.
The offering was the second-largest IPO ever in Denmark. The offer price was fixed in the upper-half of the price range at DKK 210 per share giving Pandora a market capitalisation of DKK 27.3 billion on the first day of trading.