Scandinavian Tobacco Plans Initial Public Offering in Copenhagen

Scandinavian Tobacco Group A/S, the Danish producer of cigars and pipe tobacco partly owned by Swedish Match AB, said it plans an initial public offering on the Copenhagen exchange.

The company’s current owners intend to sell as much as 40 percent of STG’s existing shares on an equal basis, STG said in a statement on Thursday. Swedish Match owns 49 percent of STG while the Augustinus Foundation and the Obel Family Foundation own 51 percent via Skandinavisk Holding II A/S.