A year and a half after word got out that Scandinavian Tobacco Group (STG) was planning an initial public offering, the company’s shares are finally listed on Nasdaq Copenhagen. Earlier today, the company executed its ipo, listing 35.6 million shares at a price of 100 DKK ($15.04) per share. An additional 4.4 million shares can be listed between now and March 11. With the additional shares, the company would be 40 percent public, 31 percent controlled by Skandinavisk Holding II A/S—two different family trusts—and 29 percent by Swedish Match. As it stands now, 36.6 percent are public, 33.2 percent are held by Skandinavisk Holding II A/S and Swedish Match retains the additional 31.2 percent. At 100 DKK per share, the company is valued at $1.5 billion. Shares ranged from 95-102 DKK in the first day of trading before closing at 100 DKK. “Becoming a listed company marks the beginning of a new era for Scandinavian Tobacco Group and I would like to thank all new shareholders for the interest and trust they have shown us,” said Niels Frederiksen, ceo of STG, in a statement. “I would also like to extend my thanks to our many skilled employees who have worked hard to make this ...
↧