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Charms have accounted for 86% of Pandora's revenue in the first half of this year
Charms have accounted for 86% of Pandora's revenue in the first half of this year

Pandora to launch IPO

Pandora plans to launch an initial public offering of its stock within the next few weeks, after announcing rocketing sales and profits for the first half of the year.
Danish private equity firm Axcel, which is the majority stakeholder in Pandora and holds 59.3 per cent of its shares, is set to sell its stake in the company.

Axcel partner Nikolaj Vejlsgaard told Reuters, “We are not long-term owners,” but added that Pandora had been “a good investment, and we are happy with its development”.

Karin Adcock, managing director of Pandora's Australian division, referred Jeweller to Pandora's head office in Denmark on the matter. However, Kasper Riis in the Denmark office told Jeweller that Pandora was unable to comment on the subject of an IPO.

Pandora’s EBITDA rocketed 56 per cent to DKK1.02 billion ($194 million) in the first half of the year. The global company reported a 105 per cent increase in six-month sales to DKK2.58 billion ($489 million) and a 41 per cent increase in operating profit to DKK892 million ($169 million)

Pandora was established in Copenhagen in 1982. The brand is largely credited with having led the charm trend that has helped propel the company to become one of the biggest international jewellery brands in the world in the past five years.

The charm business accounted for 86 per cent of Pandora's total revenue in the first six months of the year.

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