Carnegie acted as Sole Global Coordinator and Bookrunner in the directed share issue and private placement of 24,554,416 new shares in Bang & Olufsen A/S (“B&O” or the “Company”), corresponding to 20% of B&O’s current registered share capital. The transaction was structured as a private placement to a club of existing and new institutional and professional investors in Denmark and internationally (the “Private Placement”). The Private Placement was executed at a price of DKK 9.27 per share, corresponding to the VWAP of the Company’s share price over the three trading days preceding the Private Placement. The Company will receive gross proceeds of DKK 228 million. The net proceeds from the Private Placement is intended to fund investments in further strengthening of B&O’s position in the luxury audio market by increasing global brand awareness, optimising the retail network and continuing to invest in the product portfolio.
About Bang & Olufsen A/S
Bang & Olufsen is a global luxury-lifestyle brand founded in 1925 in Struer, Denmark by Peter Bang and Svend Olufsen whose devotion and vision remains the foundation for the company. Today, every Bang & Olufsen product is still characterised by the unique combination of beautiful sound, timeless design, and unrivalled craftsmanship. The company’s innovative and progressive audio products are sold worldwide in Bang & Olufsen monobranded stores, online and in multibranded stores.