Pandora plans $100 mln IPO
COPENHAGEN, September 19, 2010 – Danish jewellery brand Pandora, renowned for its charm bracelets, has said it was planning to raise around 600 million Danish crowns ($104 million) in a stock market listing.
Pandora Holding A/S, which makes jewellery in Thailand and had 2009 sales of 3.46 billion crowns, plans to issue around 600 million Danish crowns in new shares, with the money to be used primarily to purchase minority interests in distribution subsidiaries, it said.
Pandora sells jewellery in 47 countries around the world. Its most important markets are the U.S., Australia, Great Britain and Germany.
More than 80 percent of Pandora’s revenue stems from its trademark charm bracelets.
Pandora has said it was the world’s third-largest retail jewellery brand in terms of revenues in 2009.
An IPO would provide a strong platform for growth in existing and new geographical markets.