83

Business

NNIT on brink of largest IT listing for a decade

admin
March 18th, 2014


This article is more than 10 years old.

NNIT could be listed sometime after the summer

NNIT, a Novo Nordisk subsidiary and one of Denmark’s leading IT consultants, is set to become the largest IT listing in over a decade on the back of a successful 2013.

The first step towards flotation has been taken as NNIT has picked Danske Bank for its banking needs and Morgan Stanley as its advisor.

“We are working full-steam ahead. We have chosen Morgan Stanley and Danske Bank as our consultants, and for legal matters we have picked the law firms Gorrissen Federspiel and Davis Polk,” Per Kogut, the head of NNIT, told Børsen newspaper.

While a number of experts have highly rated the NNIT shares, speculating that the company is worth an estimated four billion kroner, Kogut kept his cards close to his hands.

READ MORE: Minnows will precipitate an IPO domino effect, not giants argues expert

Expecting great interest
One source told Børsen that NNIT expects to be listed sometime after the summer, and that the NNIT management is clearly optimistic and expecting the shares to generate great interest.

“The only thing I can say is that there are not many IT firms, so one could assume that there was an interest in a well-run Danish IT company,” Carsten Krogsgaard Thomsen, NNIT's head of finance, told Børsen.

NNIT employs over 2,000 people and enjoyed a turnover in 2013 of 2.2 billion kroner with profits exceeding 246 million kroner before tax.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”