NNIT explores potential for initial public offering (IPO)
15 January 2014 | Press Release
NNIT informs that the company has been requested by Novo Nordisk to explore the potential for a listing on NASDAQ OMX Copenhagen.
NNIT's Board of Directors will initiate the evaluation of the possibilities for a potential listing of the company against a background of solid growth and earnings over the past several years. The aim is to explore the potential for an IPO and to evaluate whether a listing of NNIT would support the continued development and value creation of the company. A decision about the future ownership of NNIT will be made based on the outcome of the evaluation.
"As the owner, Novo Nordisk has been very satisfied with NNIT's development. Against that background we are considering whether a change of ownership structure could support value creation in NNIT and strengthen the company's market position both in Denmark and internationally," says Jesper Brandgaard, chairman of NNIT's Board of Directors and CFO at Novo Nordisk.
NNIT's CEO, Per Kogut, is pleased with the initiation of the evaluation. He says: "It is an exciting process for NNIT, and I look forward to it with great enthusiasm. For now we will proceed with full focus on the daily business, and will be keen to learn where the evaluation of the potential listing of NNIT will take the company."
New CFO at NNIT
To ensure that the evaluation proceeds as smoothly as possible, NNIT's Board of Direc-tors has recruited Carsten Krogsgaard Thomsen as NNIT's chief financial officer, report-ing to CEO Per Kogut.
NNIT's Management going forward will comprise Per Kogut, CEO, Jess Julin Ibsen, senior vice president, IT Operation Services, and Carsten Krogsgaard Thomsen, CFO.
Commenting on the hire, Jesper Brandgaard says: "Carsten Krogsgaard Thomsen has many years' experience as chief financial officer at DONG Energy and as deputy chair-man of NNIT's Board of Directors. That means he has experience in exploring the po-tential for a listing as well as in-depth insight into NNIT's business. Thus Carsten brings significant qualifications that will contribute to the company's development."
Carsten Krogsgaard Thomsen says: "NNIT is developing rapidly and is strongly positioned for further growth. I am excited about the opportunity to take up the position of CFO and contribute to exploring NNIT's listing potential, and I look forward to joining the management of a sound company that focuses on stability, quality and safety as the platform for its operations."
Carsten Krogsgaard Thomsen takes up his position with immediate effect.
NNIT's previous CFO, Søren Bech Justesen, has decided to resign from his position as corporate vice president with effect from 28 February 2014 following completion of NNIT's annual accounts for 2013.
In 1998, NNIT was formally separated from Novo Nordisk A/S and incorporated as a limited liability company wholly owned by Novo Nordisk A/S. Since then, NNIT has con-tinuously delivered organic growth in turnover and profit margin significantly exceeding the level of the IT service market in general.
Today, NNIT is an international IT service provider offering IT consulting and the devel-opment, implementation and operation of IT solutions, using IT to support its clients' daily operations and help them achieve their business goals. NNIT employs more than 2,200 people and had a turnover in 2013 of about DKK 2.2 billion.
As an IT service provider focusing on IT solutions and IT outsourcing, NNIT has over the years built up a strong Danish client base with many new clients as well as a large in-ternational client base of pharma companies based on NNIT's specialized competences within the life sciences industry. Thus NNIT's turnover from clients outside the Novo Nordisk Group has been steadily increasing and is for 2014 expected to be level with the turnover from within the Novo Nordisk Group.
Over the years, NNIT has built up an international sourcing platform with global sourcing centres in China, the Philippines and the Czech Republic. The number of employees in these global sourcing centres today accounts for around 30% of the total number of employees in NNIT. The result has been increasing internationalization and competitive IT services both in terms of quality and price.
See also www.nnit.com.
For more information please contact
Per Kogut, CEO: +45 3075 3500, [email protected]
Carsten Krogsgaard Thomsen, CFO: +45 9955 9515
Robert Neimanas, Head of Communications: +45 3079 7480, [email protected]
Mike Rulis, corporate vice president, Corporate Communications +45 4442 3573,