Initial public offerings—Denmark—Q&A guide

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Initial public offerings—Denmark—Q&A guide
  • 1. What is the size of the market for initial public offerings (IPOs) in your jurisdiction?
  • 2. Who are the issuers in the IPO market? Do domestic companies tend to list at home or overseas? Do overseas companies list in your market?
  • 3. What are the primary exchanges for IPOs? How do they differ?
  • 4. Which bodies are responsible for rulemaking and enforcing the rules on IPOs?
  • 5. Must issuers seek authorisation for a listing? What information must issuers provide to the listing authority and how is it assessed?
  • 6. What information must be made available to prospective investors and how must it be presented?
  • 7. What restrictions on publicity and marketing apply during the IPO process?
  • 8. What sanctions can public enforcers impose for breach of IPO rules? On whom?
  • 9. Describe the timetable of a typical IPO and stock exchange listing in your jurisdiction.
  • More...

Initial public offerings—Denmark—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to initial public offerings in Denmark published as part of the Lexology Getting the Deal Through series by Law Business Research (published: August 2021).

Authors: Mazanti-Andersen—Lars Lüthjohan Jensen; Thomas Weisbjerg; Adam Kara

1. What is the size of the market for initial public offerings (IPOs) in your jurisdiction?

The Danish IPO market is relatively small and underdeveloped in comparison to those of other Nordic countries, albeit an increasing number of small and medium-sized growth companies have conducted IPOs in the Danish market in recent years. During 2020, there were 15 listings in the Danish market.

The largest IPO in the Danish market during 2020 was by HusCompagniet A/S with a total market capitalisation of 2.34 billion kroner on admission.

2. Who are the issuers in the IPO market? Do domestic companies tend to list at home or overseas? Do overseas companies list in your market?

The Danish IPO market attracts issuers from a wide variety of sectors. As of 31 May 2021, there were 125 issuers on Nasdaq Copenhagen Main Market, of which nine were foreign issuers. On Nasdaq First North Growth Market, there were 44 issuers as of 31 May 2021 including three foreign issuers. A number of Danish companies are listed on stock exchanges outside Denmark – primarily in other Nordic countries and the United States.

3. What

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