Scandinavian Tobacco Group to go public

IPO on the way from Danish tobacco giant

The Scandinavian Tobacco Group, one of the world’s leading producers of cigars and traditional pipe tobacco, will soon be listed on Københavns Fondsbørs, the Copenhagen Stock Exchange.

According to its chairman Jørgen Tandrup, the group has been planning an IPO for a while.

“The planned IPO is the culmination of the journey we started in 2010, when we created a large global market leader with a highly recognised and diversified portfolio of cigars, pipe tobacco and fine-cut tobacco,” said Tandrup.

“Since then, management has begun implementing a number of initiatives, laying out a new strategy for our brand portfolio, improving production processes and adapting production capacity.”

A growth move
Prior to the IPO,  Scandinavian Tobacco Group is still owned by two Danish funds – the Augustinus Fund and the Obel Family Fund – which control 51 percent while Swedish Match Cigars Holding controls 49 percent of the group.

READ MORE: Niels Frederiksen the new CEO of Scandinavian Tobacco Group

Group head Niels Frederiksen said that going public will help to ensure the company’s growth.

“We have managed to maintain and expand our market leadership in cigars, pipe tobacco and fine-cut tobacco, and we have a clearly defined strategic agenda to continue to improve our profitability,” he said.

Changes on the board
Changes will be made to the tobacco group’s board in connection with the planned IPO.

Søren Bjerre-Nielsen, Dianne Neal Blixt and Luc Missorten will join the board, and Anders Obel, Lars Dahlgren and Fredrik Lagercrantz will step down.




  • Digitization is the secret ingredient in Chinese restaurateur’s growth adventure

    Digitization is the secret ingredient in Chinese restaurateur’s growth adventure

    Publisher Jesper Skeel and Korean BBQ restaurant chain owner Zen discuss the ups and downs of independent entrepreneurship and how to crack the Copenhagen market, from both an international and Danish perspective.

  • Pro-Palestinian demonstrations divide Copenhagen society

    Pro-Palestinian demonstrations divide Copenhagen society

    As popular protests of the Israeli offensive in Gaza erupt around the world and in the media, from university campuses to the streets of major cities, discord is escalating between demonstrators, the general public, authorities and politicians.

  • Denmark leads 15 member states in call to outsource EU migration policy

    Denmark leads 15 member states in call to outsource EU migration policy

    Just one day after the EU finally landed its New Pact on Migration and Asylum following four years of tough negotiations, a group of 15 member states, led by Denmark, issued a joint call for greater efforts to outsource migration policy and  prevent migrants from arriving at EU borders in the first place.

  • How to lead Danes IV – Cultural Bypassing

    How to lead Danes IV – Cultural Bypassing

    Many of us Danes, despite being well-educated and well-travelled, often lack experience in navigating cultural differences at work. This can lead to ‘cultural bypassing’, where we believe we are at a level of enlightenment where we no longer are burdened by the risk of making cross-cultural mistakes. As their manager, you can help your Danish colleagues by acknowledging cultural differences in the workplace.

  • Denmark’s Climate Minister wants to expand green agriculture bill

    Denmark’s Climate Minister wants to expand green agriculture bill

    Legislation to cut the sector’s emissions could “kill two birds with one stone” if it also combats fertiliser run-off in Denmark’s marine environment, says Climate Minister Lars Aagard, marking a potential shift in the green negotiations.

  • Dansk Folkeparti threatens to leave Climate Act over CO2 tax on agriculture

    Dansk Folkeparti threatens to leave Climate Act over CO2 tax on agriculture

    Several parties have criticised Dansk Folkeparti’s announcement that it may drop out of Denmark’s ambitious Climate Act agreement, calling the threat populist and cowardly.