Capital markets in Denmark

Gorrissen Federspiel

Gorrissen Federspiel acts for its client roster of underwriters, investors and managers on IPOs, takeovers and debt and equity issuances, and also assists mortgage credit institutions with complex bond issuances. Practice head Rikke Schiøtt Petersen's breadth of expertise spans capital market transactions, public and private M&A, securities law, corporate governance issues and executive remuneration work. Klaus Søgaard is also singled out for his takeover and IPO knowledge. Michael Steen Jensen, who handles a number of issuer-side capital markets mandates, was seconded to Danske Bank as group general counsel.

Practice head(s):

Rikke Schiøtt Petersen

Other key lawyers:

Chantal Pernille Patel; Tobias Linde; Morten Nybom Bethe; Mikkel Fritsch

Work highlights

  • Assisted A.P. Møller-Mærsk with its demerger and separate listing of Maersk Drilling Group.
  • Assisted Lind Invest with a DKK575m voluntary takeover offer for Arkil Holding.
  • Advised Abacus Medicine on its $90m IPO on the Frankfurt Stock Exchange.

Kromann Reumert

Kromann Reumert handles a range of capital markets and M&A transactions involving multinational corporations, government agencies, financial institutions and private equity funds. The practice also advises on due diligence reviews and assists with the drafting and negotiation of shareholder, investment and share purchase agreements. Practice co-heads Christian Lundgren and Marianne Philip act for industrial and financial clients on business acquisitions and sales, IPOs and public issuances, verification processes and restructuring and corporate governance matters.

Practice head(s):

Christian Lundgren; Marianne Philip

Other key lawyers:

Jørgen Kjergaard Madsen; Henrik Møgelmose

Testimonials

Christian Lundgren has significant experience in this field and is still not afraid of using a common sense approach to most questions

Long-standing relationship, excellent strategic understanding

Christian Lundgren is the star of the practice

Key clients

Danske Bank A/S

Carlsberg Breweries A/S

FLSmidth & Co A/S

Scandinavian Tobacco Group A/S

Bavarian Nordic A/S

Genmab A/S

Pandora A/S

ISS A/S

Ørsted A/S

NKT A/S

Nilfisk Holding A/S

Lundbeck

SimCorp

ALK-Abello

TCM Holding

Jeudan

Tivoli

Work highlights

  • Advised NeuroSearch on a $16m conditional voluntary public takeover bid from Gefion Group Investments.
  • Assisted Danske Bank, Deutsche Bank, Morgan Stanley and SEB as underwriters with the IPO of Netcompany Group.
  • Assisted Innovator International with its sale of shares in TCM Group.

Plesner

Plesner is a key name for public M&A transactions, equity capital markets work, IPOs and rights issuances for companies and securities listed on Nasdaq Copenhagen and international stock exchange markets. The group also assists with takeover procedures, accelerated bookbuilds (ABBs) and private investment in public equity (PIPE) deals. Thomas Holst Laursen and Nicolai Ørsted jointly lead the ECM practice, while Thomas Maaberg Hansen heads up the DCM group. Henrik Laursen is also a noteworthy practitioner and has expertise in debt to equity restructurings for listed corporations. Clients include telecoms corporations, pension funds and capital markets companies.

Practice head(s):

Thomas Holst Laursen; Nicolai Ørsted; Thomas Maaberg Hansen

Other key lawyers:

Micha Fritzen

Key clients

Netcompany Group A/S

Various entities within the Macquarie Group

Nordea Bank A/S

Danske Bank A/S

Sampo plc

If P&C Insurance

Danish Ministry of Finance

Zealand Pharma A/S

Carnegie Investment Bank

JP Morgan

Morgan Stanley

Deutsche Bank

Tryg A/S

Work highlights

  • Advised A.P. Møller Holding as majority shareholder on the spin-off and separate listing of Maersk Drilling.
  • Assisted ABG Sundal Collier Denmark and Danske Bank with the intended IPO of Adform.
  • Assisted FSN Capital Partners and Netcompany Group with sell-downs by FSN Capital Partners of Netcompany Group through accelerated bookbuild offerings.

Accura Advokatpartnerselskab

The team at Accura Advokatpartnerselskab is experienced in handling stock exchange listings, takeovers, share issuances and transactions related to existing shares. Other key areas of strength include share buy-backs, prospectus draftings and delisting procedures. Mads Kjellerup Dambæk has expertise in the financial sector and also advises on regulatory issues. The group's client base spans banks and financial institutions.

Practice head(s):

Mads Kjellerup Dambæk; Lars Hagbard Grønkjær; Mads Ilum; Kåre Stolt; Kim Toftgaard; Henrik Juul Hansen; Thomas Weincke

Testimonials

Accura’s capital markets team is one of the best deal execution teams in Denmark. In addition, it is more pragmatic and business-oriented than most other teams within the capital markets practice

I value the firm’s practical experience with listed companies, which enables it to provide pragmatic solutions and give an understanding of real life problems in respect of compliance with the securities legislation for listed companies

Unique understanding of your business and needs

Key clients

Tryg

Nykredit

H+H International

AP Pension

Bang & Olufsen

Arbejdernes Landsbank

Vestjysk Bank

Den Jyske Sparekasse

Ringkjøbing Landbobank

Lån & Spar Bank

Spar Nord Bank

Jyske Bank

Work highlights

  • Advising Pareto Securities as arranger on the listing of floating rate senior secured €32m bonds by GG St. Kongensgade 100 og 106.
  • Assisted Den Jyske Sparekasse with the repayment of hybrid capital totalling DKK300m.
  • Assisted Lån & Spar Bank with the repayment of capital certificates worth DKK100m.

Bech-Bruun

Bech-Bruun’s regulatory expertise includes handling the interpretation of stock exchange regulations and corporate governance codes including duty of disclosure issues, market abuse work and advising on the rules governing the offering and listing of securities. The practice also handles the verification and takeover of listed companies as well as delistings.  Jacob Hjortshøj is an expert in M&A transactions, stock exchange law and public offerings; other key individuals include Ole Nørgaard, who advises on the structuring of sale and acquisition procedures, due diligence investigations and the negotiation of transfer agreements; and David Moalem, who focuses on compliance-related matters.

Other key lawyers:

Morten Krogsgaard; Steen Jensen

Testimonials

Up to date on latest regulations and trends

David Moalem is professional, dedicated and trustworthy and his insights is second to none. His friendly, calm and no-nonsense approach makes him likeable to everyone – both clients and counterparties

Key clients

Total S.A.

Danfoss A/S

Maj Invest Equity A/S

CVC Capital Partners

McDonald’s

Advent International Corporation

BESTSELLER

Energinet (the Danish TSO)

Jyske Bank

A.P. Møller-Mærsk and A.P. Møller Holding

Salling Group

Novo Holdings A/S og Novo Nordisk Fonden

Altor Equity Partners

Solix

Welltec A/S

Joe & The Juice

Aller Media and Aller Holding

Copenhagen Infrastructure Partners and Copenhagen Offshore Partners

Knoll Inc.

Bruun & Hjejle

The capital markets practice at Bruun & Hjejle works closely with the firm’s M&A team to advise banks and financial institutions, private equity funds and corporate clients on equity and debt capital market transactions. The practice’s expertise encompasses bond and note issuances, private placements, sell-down transactions, public takeovers and IPOs. Team head Morten Jensen regularly acts on initial private placements and advises on the regulatory requirements for stock exchange trade; the practice also handles listings, stock emissions and auction processes.

Practice head(s):

Morten Jensen

Other key lawyers:

Jesper Schultz Larsen

Testimonials

Very competent team from partners to associates and very commercial and solution-oriented approach with the client in focus

Dedicated and problem-solving approach. Easy to talk to and accessible

Deep local understanding of capital markets, well known for high-quality services

Key clients

Danske Bank

Karnov Group Denmark A/S

Better Collective

NKT A/S

Demant A/S

Arbejdernes Landsbank

Danish Ship Finance

Nykredit Bank

Deutsche Bank

Amgen, Inc.

Work highlights

  • Advised Arbejdernes Landsbank on Middelfart Sparekasse’s issuance of Tier 2 capital.
  • Advised Danish Ship Finance on its inaugural issuance of ship covered bonds.
  • Advised Amgen on its tender offer to acquire Nuevolution from Sunstone Capital, SEB Venture Capital and Industrifonden.

Mazanti-Andersen Korsø Jensen

Mazanti-Andersen Korsø Jensen is particularly active in the IT and life sciences sectors and assists clients with cross-border capital markets transactions; the department also advises on IPOs and equity financing work. The practice is jointly led by Lars Lüthjohan Jensen, Thomas Weisbjerg and Frederik B. Hasling, who are experienced in advising on private placements, rights issues and delisting procedures. The team also assists with convertible loan and warrant agreements.

Practice head(s):

Lars Lüthjohan Jensen; Thomas Weisbjerg; Frederik B. Hasling

Testimonials

Very strong capital market practice. The team does not only advise on vanilla stuff, but also on complex matters like cross-border mergers and takeovers

Key clients

Ascendis Pharma A/S

Forward Pharma A/S

Oncology Venture A/S

Strategic Investments A/S

Freetrailer A/S

Virogates A/S

Mitsui & Co. Ltd.

Danske Andelskassers Bank A/S

Vald. Birn Holding A/S

Work highlights

  • Advised Ascendis Pharma on its $575m public offering of ADS’ on Nasdaq.
  • Assisted Y-mAbs Therapeutics with its $100m IPO on Nasdaq.
  • Advised Strategic Investments on a DKK40m mandatory takeover bid for Small Cap Danmark.

Moalem Weitemeyer Bendtsen

The capital markets team at Moalem Weitemeyer Bendtsen has notable expertise in public and private deals, equity issuances, public exchange offers, takeover offers and regulatory issues. The group is also experienced in bond issuances and financing mandates. Practice head Henning Aasmul-Olsen regularly acts on the development of takeover proposals.

Practice head(s):

Henning Aasmul-Olsen

Other key lawyers:

Dan Moalem; Bjørn Krog Andersen

Testimonials

Moalem Weitemeyer Bendtsen has incredibly strong skills in capital markets compared to other law firms. The team has good insights into and experience with corporate finance, which is a great advantage for the customer as it means that the team can provide the best advice to the financial parties underpinned by great legal weight. This can be absolutely crucial to making things succeed in any given situation

All individuals we have worked with at Moalem Weitemeyer Bendtsen are fully dedicated to their task, have strong strategic skills and are good at initiating relevant proposals and discussions with the bank’s management. Henning Aasmul-Olsen has proved to be a really strong competence due to his vast insight into and experience with corporate finance

Key clients

Søren Alminde Holding ApS

JCA Holding ApS

Coping Management ApS

JOOL Capital Partners

Danske Andelskassers Bank A/S

DSV A/S

Pandora A/S

Enel SpA

Mongo DB, Inc.

Tryg A/S

Dell

Garmin

Intel

Johnson & Johnson

Nuance

Pfizer

Bain Capital Private Equity

Advent International Corporation

Work highlights

  • Advised JOOL Capital Partner on bond financing provided to Gefion Group Holdco and arranged by JOOL Capital Partner.
  • Advised Polaris Private Equity on the refinancing of a transportation portfolio company by way of a corporate bond issuance.
  • Advised DSV on a $2.5bn proposal to acquire all outstanding shares of SIX listed transport and logistics company Ceva Logistics in a voluntary public offer.

DLA Piper Denmark

DLA Piper Denmark regularly advises on prospectus preparation, verification work, IPOs and securities trading and regulation mandates, and is also experienced in share buy-backs, capital reductions and listed company takeovers and delistings. Practice head Niels Erik Nielsen has expertise in structured sales processes, takeover bids, divestment strategies and IPOs. Ian Tokley contributes DCM expertise.

Practice head(s):

Niels Erik Nielsen

Key clients

Jyske Realkredit

Intermail

eSoft Systems

Brondbyerns IF Fodbold

European Energy

BwB Partners

Photocat A/S

Cemat A/S

Work highlights

  • Advised Jyske Realkredit on its issuance of covered bonds.
  • Advised eSoft on the preparation of documents for the annual general meeting and offering documents sent to the shareholders and Nasdaq.
  • Advised Redstone Advisory on its €150m acquisition of Parken Sport & Entertainment.

Horten

Horten handles debt and equity capital market transactions and counts banks, financial institutions, corporate investors and issuers as clients. The team advises on listings, delistings, issuances, corporate governance work and regulatory mandates. Jacob Kornerup and Lise Lotte Hjerrild jointly lead the equity capital markets and M&A practice, while Claus Bennetsen leads the debt capital markets group. Henning Aasmul-Olsen departed to Moalem Weitemeyer Bendtsen in 2018.

Practice head(s):

Jacob Kornerup; Lise Lotte Hjerrild; Claus Bennetsen

Testimonials

Straightforward advisers

Key clients

Nets A/S

Carlsberg Byen

Tryg Forsikring A/S

Jyske Bank A/S

Deutsche Bank

J. P. Morgan

Idinvest Partners

NIL Technology ApS

Copenhagen Bombay Group

HSBC Bank

Barclays Bank

Nykredit

Danske Bank

Citigroup Global Markets

Macquarie Capital

Nordea Bank

Commerzbank

Aquaporin A/S

Mobylife Holding A/S

Conferize A/S

Work highlights

  • Advised JP Morgan, HSBC Bank and Barclays Bank as global coordinators on the financing of Carlyle’s acquisition of Akzo Nobel’s speciality chemical unit for $12.5bn.
  • Advised the sponsors including Commerzbank on the IPO of Abacus Medicine on the Frankfurt Stock Exchange.
  • Advised the Copenhagen Bombay Group on its issuance of shares through a crowdfunding platform.