Realdania announces accelerated bookbuilt offering of approximately 52 million ex-isting shares in Danske Bank A/S
Not for release, publication or distribution in or into United States, Canada, Japan or Australia
Realdania, a Danish philanthropic association, currently holds 10.07% of the shares in Danske Bank and has been a shareholder since 2000 when Realkredit Danmark and Danske Bank merged. The Danske Bank stake accounts for more than 40% of Realdania’s assets and the sale of shares and the expected reinvestment in other assets is intended to achieve a more balanced investment portfolio to support future philanthropic projects. Having supported Danske Bank twice in its equity capital raisings during the financial crisis, Realdania is supportive of Danske Bank’s new strategy and believes Danske Bank is now in a robust financial position. Realdania will remain a supportive shareholder with its residual stake and has agreed to a 180-day look-up period on its remaining stake from the date of this announcement.
For the avoidance of doubt, Danske Bank will not receive any proceeds from the sale.
Bookbuilding will commence immediately. It is anticipated that books will close on or around March 6, 2013, although the bookrunners reserve the right to close the books at any time. J.P. Morgan is acting as Sole Global Coordinator and Joint Bookrunnner and Citi is acting as Joint Bookrunner on the transaction. Realdania has been advised by FIH Partners.
For further information, please contact:
Communication Officer, Realdania
+45 29 69 52 20