Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Pandora Investors Seek to Sell 10% Stake in Danish Jeweler

May 22 (Bloomberg) -- Several investors in Pandora A/S are selling a stake of about 10 percent in the Danish maker of charm bracelets, capitalizing on its surging share price.

Funds managed by Danish private-equity firm Axcel, Pewic Holding ApS and Christian and Per Algot Enevoldsen are offering 13 million shares for sale to institutional investors, according to an e-mailed statement from Danske Bank A/S and Goldman Sachs Group Inc., which are acting as joint bookrunners.

The sale mirrors one by the same shareholders on March 14, since when the shares have risen 18 percent. The stock has more than doubled in the past year as shoppers have snapped up the jeweler’s collections of charms. Pandora, based in Glostrup, Denmark, raised its annual sales forecast this month after reporting first-quarter revenue that exceeded estimates.

Pandora rose 1 percent to 413.20 kroner in Copenhagen today, the highest close since its 2010 initial public offering. The stock fell as low as 34.30 kroner a year after the IPO when the jewelry maker suffered a collapse in demand. It has since turned a page after introducing new products more frequently.

Axcel bought a controlling stake in Pandora in 2008 and later reduced its holding. It will own about 3.7 percent of the company following the transaction and a separate purchase of shares from Michael Lund Petersen, a minority founding shareholder, the statement shows.

Pewic and the founding Enevoldsen family will retain a stake of 1 million shares in the company.

All of the selling shareholders have agreed not to sell any more Pandora shares within 90 days of the transaction.

A Pandora spokesman declined to comment on the sale.

To contact the reporter on this story: Katarina Gustafsson in Stockholm at

To contact the editors responsible for this story: Celeste Perri at Thomas Mulier

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.