• IPOs and direct listings
• Bond issues in all parts of the capital markets' structure, including providing advice on the to date only issues of hybrid corporate bonds in Denmark
• Establishment and maintenance of EMTN programmes and issues thereunder
• Public M&As (buyer's side, and advice to the company and its board of directors)
• Rights issues
• Accelerated Book Buildings (ABBs)
• Private placements
• PIPE transactions (Private Investments in Public Equity)
• Other financing, for instance convertible bonds and royalty financing
• General capital markets law for listed corporate issuers, including advice on continuing obligations (disclosure requirements, flagging, etc)

Our team

Our team offers coherent advice focused on business insight. We adapt our advice to the ever-changing market standards and attach great importance to ensuring active partner involvement throughout all stages.

In instances where a company is pursuing an IPO track alongside an M&A sale track ("dual-track" process), we successfully assign a partner team with in-depth capital markets and M&A experience to make sure that the precondition for providing highly specialised advisory services at short notice is constantly met. This approach has been instrumental in creating maximum value for our clients in dual-track cases.

Highlights

• Novozymes A/S - advisor to the company in connection with its merger with Chr. Hansen Holding A/S with a total deal value of approximately EUR 27 billion (2023)
• Deutsche Börse AG and SimCorp A/S - advisor to Deutsche Börse in connection with its public takeover offer to the shareholders of SimCorp A/S at a value of approximately DKK 29 billion (2023)
• Tryg A/S - adviser to the company in connection with a £7.2 billion joint take-over offer on RSA Insurance Group (admitted to trading on London Stock Exchange) (2020) and its DKK 37 billion rights issue (2021)
• TDC A/S - adviser to consortium in connection with voluntary take-over offer to buy the company (2018)
• Noble Corporation - adviser to the company in connection with its combination with Maersk Drilling in a primarily all-stock transaction, following which the shares of combined company will be listed on both the New York Stock Exchange and Nasdaq Copenhagen (2021) 
• Dong Energy A/S (now Ørsted A/S) - adviser to the Danish government in connection with IPO on Nasdaq Copenhagen (2016)
• Netcompany A/S - adviser to the company in connection with its listing on Nasdaq Copenhagen (2018)
• Veloxis Pharmaceuticals A/S - adviser to the company in connection with a public take-over offer from Asahi Kasei (2020)
• Trifork Holding AG - Danish legal adviser to the company in connection its IPO on Nasdaq Copenhagen (2021)
• Ambu A/S - advisor to the company in connection with a capital increase through an AAB in a private placement with a value of approx. DKK 1.2 billion (ABB) (2023)

• IPOs and Rights Issues

• Green Hydrogen Systems A/S - advisor to Danske Bank A/S in their role as sole global coordinators and bookrunners in connection with Green Hydrogen Systems' rights issue of DKK 469 million (2023)
• Gubra A/S - advisor to the company in connection with its IPO on Nasdaq Copenhagen Main Market (2023)
• Aquaporin A/S - adviser to the joint global coordinators in connection with Aquaporin A/S' IPO on Nasdaq Copenhagen A/S (2021)
• Green Hydrogen Systems A/S - adviser to the managers in connection with Green Hydrogen Systems A/S' IPO on Nasdaq Copenhagen A/S (2021) 
• Trifork Holding AG - Danish legal adviser to the company in connection its IPO on Nasdaq Copenhagen (2021)
• Tryg A/S - adviser to the company in connection with its DKK 37 billion rights issue (2021)
• Aktieselskabet Arbejdernes Landsbank - adviser to Danske Bank A/S in connection with Aktieselskabet Arbejdernes Landsbank's rights issue (2021)
• Trustpilot Group plc - Danish legal adviser to the company in connection with its IPO on London Stock Exchange (2021)
• RISMA Systems A/S - advisor to the company in connection with its listing on Nasdaq First North Growth Market (2021)
• Orphazyme A/S - adviser to joint global coordinators in connection with Orphazyme A/S' (listed on Nasdaq Copenhagen) global offering, including an IPO of American depositary shares on the Nasdaq Global Market in the United States and an European private placement of ordinary shares (2020)
• Bavarian Nordic A/S - adviser to joint global coordinators in connection with a rights issue (2020) 
• Bang & Olufsen A/S - adviser to joint global coordinators in connection with a rights issue (2020) 
• Nordnet AB - Danish legal counsel in connection with the company's listing on Nasdaq Stockholm (2020) 
• Maersk Drilling Holding A/S - adviser to main shareholder A.P. Møller Holding A/S in connection with the demerger and separate listing of Maersk Drilling Holding A/S on Nasdaq Copenhagen (2019)
• NTG Nordic Transport Gourp A/S - adviser to Danske Bank A/S and Nordea Denmark in connection with an indirect IPO of NTG Nordic Transport Gourp A/S through Neurosearch A/S (2019)
• Adform A/S - adviser to joint global coordinators in connection with the IPO of Adform A/S on Nasdaq Copenhagen - the IPO did not go through (2018)
• Netcompany A/S - adviser to the company in connection with its listing on Nasdaq Copenhagen (2018)
• Orphazyme A/S - adviser to joint global coordinators in connection with the IPO of Orphazyme A/S on Nasdaq Copenhagen (2017)
• Nilfisk Holding A/S - verification lawyer in connection with spin-off listing on Nasdaq Copenhagen (2017)
• Zealand Pharma A/S - adviser to the company in connection with its IPO (dual listing) on NASDAQ, New York (2017)
• Dong Energy A/S (now Ørsted A/S) - adviser to the Danish government in connection with IPO on Nasdaq Copenhagen (2016)
• Nets A/S - adviser to joint global coordinators in connection with the IPO of Nets A/S on Nasdaq Copenhagen (2016)
• Nordic Waterproofing A/S - Danish legal adviser to the company and the selling shareholders in connection with admission to trading on Nasdaq Stockholm (2016)
• Scandinavian Tobacco Group A/S - adviser to the joint global coordinators in connection with the listing of Scandinavian Tobacco Group A/S on Nasdaq Copenhagen (2016)
• Ascendis Pharma A/S - adviser to certain shareholders in connection with the listing of Ascendis Pharma A/S on NASDAQ, New York (2015)
• Nordjyske Bank A/S - adviser to the company, listed on Nasdaq Copenhagen, in connection with its rights issue (2015)
• Nuevolution AB (publ) - adviser to the company in connection with its admission to trading on Nasdaq First North Sweden (2015)
• Sparekassen Sjælland A/S - verification lawyer in connection with the listing of Sparekassen Sjælland A/S on Nasdaq Copenhagen (2015)
• Forward Pharma A/S - adviser to the banks in connection with the listing of Forward Pharma A/S on NASDAQ, New York (2014)
• ISS A/S - adviser to the joint global coordinators in connection with the IPO of ISS A/S on Nasdaq Copenhagen (2014)
• Fast Ejendom Danmark A/S - verification lawyer in connection with the listing of Fast Ejendom Danmark A/S without a public offer on Nasdaq Copenhagen (2012)
• Veloxis Pharmaceuticals A/S - adviser to the company in connection with its rights issue (2012)
• Sanistål A/S - adviser to the company in connection with its rights issue on Nasdaq Copenhagen (2011)
• Nordic Tankers A/S / Nordic Shipholding A/S - rights issue (2010) as well as private placing
• Zealand Pharma A/S - adviser to the company in connection with its IPO on Nasdaq Copenhagen (2010)

• Take-over Offers and Transactions

• Deutsche Börse AG and SimCorp A/S - advisor to Deutsche Börse in connection with its public takeover offer to the shareholders of SimCorp A/S at a value of approximately DKK 29 billion (2023)
• Verdane and Re-Match A/S - advisor to Verdane in connection with its public takeover offer to the shareholders of Re-Match A/S at a value of DKK 256 million and the subsequent delisting of Re-Match A/S from Nasdaq First North Premier Growth Market (2023)
• Sanistål A/S - advisor to the company in connection with the public takeover offer from Ahlsell Danmark ApS with a value of EUR 103 million (2022)
• Noble Corporation - adviser to the company in connection with its combination with Maersk Drilling in a primarily all-stock transaction, following which the shares of combined company will be listed on both the New York Stock Exchange and Nasdaq Copenhagen (2021) 
• Svejsemaskinefabrikken Migatronic A/S - adviser to controlling shareholder in connection with a take-over offer on Svejsemaskinefabrikken Migatronic A/S and the subsequent delisting of the company from Nasdaq Copenhagen (2021)
• Tryg A/S - adviser to the company in connection with a £7.2 billion joint take-over offer on RSA Insurance Group (admitted to trading on London Stock Exchange) (2020)
• Veloxis Pharmaceuticals A/S - adviser to the company in connection with a public take-over offer from Asahi Kasei (2020)
• IC Group A/S - adviser to the company in connection with a public take-over offer from controlling shareholder (2019)
• Arkil Holding A/S - adviser to the company in connection with a public take-over offer from controlling shareholder (2019)
• TDC A/S - adviser to consortium in connection with voluntary take-over offer to buy the company (2018)
• Nordjyske Bank A/S - adviser to the company in connection with a public take-over offer from Jyske Bank A/S and in connection with the merger with Ringkjøbing Landbobank A/S (2018)
• Victoria Properties A/S - adviser to Gefion Group in connection with a voluntary take-over offer to the shareholders in Victoria Properties A/S (2018)
• NeuroSearch A/S - adviser to Gefion Group in connection with a voluntary take-over offer to the shareholders of NeuroSearch A/S (2018)
• Topdanmark A/S - adviser to Sampo plc in connection with the submission of a mandatory tender offer to the shareholders of Topdanmark A/S (2016)
• Copenhagen Network A/S - adviser to the company in connection with the voluntary take-over offer from Dansk OTC (2016)
• Land & Leisure A/S - adviser to @Leisure Holding B.V. in connection with the take-over of Land & Leisure A/S (through a voluntary take-over offer) (2016)
• Nørresundby Bank - adviser to Nordjyske Bank in connection with the take-over of Nørresundby Bank (through a voluntary take-over offer and subsequent merger) (2015)
• DiBa Bank A/S - adviser to Sydbank in connection with its take-over of DiBa Bank (through a voluntary take-over offer) (2014)
• Origio A/S - adviser to the company (previously admitted to trading on the Oslo Stock Exchange) in connection with the public take-over offer from The Cooper Companies (2012)
• Brdr. Hartmann A/S - adviser to the company in connection with the voluntary take-over offer from Lactosan-Sanovo (2011)
• Cimber Sterling A/S - adviser to Mansvell Enterprises Ltd. in connection with the purchase of a majority share in the Danish regional airline company, Cimber Sterling (through a public take-over offer) (2011)
• Danisco A/S - adviser to DuPont in connection with the take-over of Danisco (through a voluntary take-over offer) (2011)

• Other Transactions

• Novozymes A/S - advisor to the company in connection with its merger with Chr. Hansen Holding A/S with a total deal value of approximately EUR 27 billion (2023)
• RISMA Systems A/S - advisor to RISMA Systems A/S in connection with a private placement of new shares to new and existing investors at a value of approximately DKK 20 million (2022)
• Orphazymes A/S - adviser to Cowen and Company, LLC in connection to with publication of Orphazymes A/S' prospectus supplement relating to a US At-the-Market offering program in respects of the issuance and sale of American Depositary Shares (2021) 
• Nordic Waterproofing Holding AB - adviser to the company in connection with its admission to trading on Nasdaq Stockholm following the merger with Nordic Waterproofing Holding A/S (previously listed on Nasdaq Stockholm) (2020)
• NTG Nordic Transport Group A/S - adviser to the company in connection with the offering of existing shares to institutional and professional investors at a value of approx. DKK 404,000,000 (private placement) (2020)
• Zealand Pharma A/S - adviser to Zealand Pharma A/S in connection with PIPE transaction with a US investor (2020)  
• Zealand Pharma A/S - adviser to Zealand Pharma A/S in connection with the PIPE-transaction with Alexion Pharmaceuticals, Inc. (2019)
• Zealand Pharma A/S - adviser to Zealand Pharma A/S in connection with the offering of new shares at a value of approx. DKK 560,000,000 to Van Herk Investments B.V. (private placement) (2019)
• Bavarian Nordic A/S - adviser to Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, in connection with the PIPE transaction (2017)
• Brødrene A&O Johansen A/S - adviser to Sanistål A/S (listed on Nasdaq Copenhagen) in connection with the sale of approx. 40% of the share capital back to A&O Johansen A/S (also listed on Nasdaq Copenhagen) (2016)
• TORM A/S - adviser to a number of lenders in connection with the reconstruction of the listed Danish shipping company TORM A/S (2015)
• Bavarian Nordic - PIPE transaction (2014)
• DONG Energy A/S (now Ørsted A/S) - adviser to DONG Energy in connection with raising DKK 11 billion of new share capital in DONG Energy from Goldman Sachs, ATP and PFA in one of the largest private placements ever in Europe (2014)
• Bang & Olufsen - PIPE transaction (2012)
• Chr. Hansen - adviser to Novo A/S in connection with the purchase of 25% of Chr. Hansen (private placement) (2012)
• Genmab A/S - adviser to Janssen (owned by Johnson & Johnson) in connection with PIPE transaction (2012)
• DFDS - A.P. Møller-Mærsk's investment in DFDS through a private placing (2009)
• Clipper Group - the former Nordic Tankers' purchase of Clipper's activities within the product carrier segment (through a private placement of shares in Nordic Tankers to Clipper Group)

• Issues of Debt

• FairWind A/S - advisor to Force BidCo A/S (holding company of FairWind A/S) in connection with the company's publication of a bond prospectus and admission to trading and official listing on Nasdaq Stockholm AB of EUR 50m senior secured callable floating rate bonds (2022)
• Tryg Forsikring A/S - advisor to Tryg Forsikring A/S on its NOK 850,000,000 and SEK 2,300,000,000 issuance of Restricted Tier 1 and Tier 2 notes and subsequent listing on Oslo Stock Exchange (2021)
• European Energy A/S - adviser to European Energy A/S in connection with its issuance of in aggregate EUR 150,000,000 of hybrid green capital securities listed on Nasdaq Copenhagen's green bond segment (2021)
• Fitness World - adviser to Fitness World in connection with EUR 445,000,000 high yield bond take-out financing relating to PureGym's acquisition of Fitness World and subsequent EUR 45,000,000 private placement (2021)
• H. Lundbeck A/S - adviser to H. Lundbeck A/S in connection with the establishment of its EUR 2,000,000,000 ETMN programme and EUR 500,000,000 inaugural issuance (2020)
• European Energy A/S - adviser for European Energy A/S in connection with two separate issues of green bonds at a value of EUR 140,000,000 and EUR 60,000,000 (2019)
• DKT Finance ApS (controlled by the consortium that owns TDC A/S) - Danish legal adviser in connection with the issue of notes at a value of EUR 1,400,000,000 (2018)
• Norican A/S and Altor (ultimate owner) – legal adviser to Norican A/S and its subsidiaries as to Danish law in connection with Norican A/S's issue of notes at a value of EUR 340,000,000
• A/S Storebæltsforbindelsen - EMTN programme
• A/S Øresundsforbindelsen - EMTN programme
• DONG Energy A/S (now Ørsted A/S) - annual updates of DONG Energy's EUR 3 billion EMTN programme and DONG Energy's issue of senior notes under the programme, most recently in 2013
• DONG Energy A/S (now Ørsted A/S) - DONG Energy's issue of listed hybrid capital for the purpose of refinancing outstanding subordinated notes (closed in May 2015). Since 2005, we have been assisting DONG Energy with tenders and buy-backs of structured hybrid bonds - so far the only issue of hybrid capital by a Scandinavian corporate issuer
• GlobalConnect A/S - assistance to Nordic Trustee in connection with GlobalConnect's bond issue
• ISS A/S - assistance to managing banks in connection with ISS A/S' EMTN programme
• Zealand Pharma - royalty financing through the issue of unlisted bonds in the USA (2015)

• Accelerated Book Buildings

• Zealand Pharma A/S - advisor to the company in connection with a capital increase through an AAB in a private placement with a value of approx. DKK 1.5 billion (ABB) (2023)
• Ambu A/S - advisor to the company in connection with an equity raise through an ABB in a private placement with a value of approx. DKK 1.1 billion (private placement) (2023)
• Bavarian Nordic A/S - advisor to joint global coordinators and joint bookrunners in connection with Bavarian Nordic A/S' issuance of new shares at a value of DKK 1.642 billion through an ABB (2023)
• Zealand Pharma A/S - advisor to the company in connection with an equity raise of approx. DKK 786 million through an ABB (private placement) (2022)
• Zealand Pharma A/S - advisor to the company in connection with its offering of existing shares to a number of institutional investors at a value of approx. DKK 275 million (private placement) (2022) 
• Penneo A/S - advisor to Danske Bank A/S in their role as sole global coordinator in connection with Penneo A/S' offering of new shares to a number of institutional investors at a value of approximately DKK 61.5 million (private placement) (2022)
• NTG Nordic Transport Group A/S - adviser to the company and the selling shareholders in connection with the offering of existing share at a value of approx. DKK 644,000,000 through an ABB (2021) 
• Zealand Pharma A/S - adviser to the company in connection with the issue of new shares at a total value of approx. DKK 749,000,000 through an ABB (2021)
• Ambu A/S - adviser to the joint global coordinators in connection with the issue of new shares and existing treasury shares in Ambu A/S at a value of approx. DKK 1.3 billion through an ABB (2021)
• Bavarian Nordic A/S - adviser to the joint global coordinators in connection with the issue of new shares in Bavarian Nordic A/S at a value of approx. DKK 1.15 billion through an ABB (2021)
• Tryg A/S - adviser to the company in connection with its offering of existing shares of a total value of approx. DKK 7.05 billion through an ABB (2021)
• Tryg A/S - adviser to the company in connection with its offering of existing shares of a total value of approx. DKK 3.6 billion through an ABB (2020)
• Zealand Pharma A/S - adviser to Zealand Pharma in connection with the issue of new shares and American depositary shares at a total value of approx. DKK 650,000,000 through an ABB (2020)  
• Orphazyme A/S - adviser to joint global coordinators in connection with offering of new and existing shares at a value of approx. DKK 750,000,000 through an ABB (2020)
• GreenMobility A/S - adviser to ABG Sundal Collier Danmark (sole bookrunner) in connection with the offering of new share by GreenMobility A/S at a value of approx. DKK 75,000,000 through an ABB (2020)
• Netcompany Group A/S - adviser to FSN Capital Partners in the sell-down of shares in Netcompany Group A/S through an ABB at a total value of approx. DKK 674,000,000 (2019)
• GreenMobility A/S - adviser to ABG Sundal Collier Danmark (sole bookrunner) in connection with two offerings of new shares by GreenMobility A/S at a value of approx. DKK 35,000,000 (March 2019) and DKK 32,500,000 (November 2019) both through accelerated book bindings (2019) 
• Tryg A/S – adviser to Nordea as financial adviser in connection with the private placement of new shares valued at approx. DKK 4 billion (2017)
• NKT Holding A/S - adviser to joint global coordinators in connection with the offering by NKT Holding A/S of new and existing shares at a total value of approx. DKK 1.4 billion through an ABB (2016)
• Zealand Pharma A/S - adviser to Zealand Pharma in connection with its issue of new shares at a total value of approx. DKK 143 million through an ABB (2016)
• H+H - adviser to Danske Bank (Sole Lead Manager) in connection with the issue by H+H of new shares through an ABB (2015)
• A.P. Møller-Mærsk A/S - adviser to Danske Bank (Manager) in connection with the sale of shares in A.P. Møller-Mærsk A/S at a value of approx. DKK 4 billion through an ABB (2014)
• Danske Bank A/S - adviser to Realdania in connection with the sale of shares at a value of approx. DKK 5.8 billion in Danske Bank A/S through an ABB (2013)