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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