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Pandora Main Owners Gain Direct Stakes After Share Distribution

Pandora A/S (PNDORA), the Danish maker of charm bracelets, said the 40.4 percent stake held by Prometheus Invest ApS has been redistributed to the investment fund’s controlling shareholders, giving them direct ownership.

Private-equity fund Axcel will own about 25.9 percent of Pandora after the reallocation, while the founding Enevoldsen family will hold 12.4 percent, the jeweler said today in a statement. Some minority owners are also involved and will directly hold 2.1 percent between them, leaving Prometheus without any shares in Pandora, according to the statement.

“No sales of Pandora shares have been made in the market and no change in the ultimate ownership of such shares will occur as a result of the distribution,” the company said.

The Enevoldsen Group intends to conduct “further group reorganizations that may result in a change in the placement of the group’s holdings of Pandora shares,” the company said.

Pandora shares have gained 82 percent this year on improved earnings as the Danish company has added new collections more frequently and lowered prices. The stock was up 0.6 percent at 226.50 Danish kroner as of 9:25 a.m. in Copenhagen.

To contact the reporter on this story: Katarina Gustafsson in Stockholm at +46-8-610-0714 or kgustafsson@bloomberg.net

To contact the editor responsible for this story: Celeste Perri at +31-20-589-8505 or cperri@bloomberg.net

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