FIH Partners advises on the

IPO of Netcompany

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What you should consider

As the owner of a private company considering an initial public offering (IPO) or a listed company contemplating spinning-off a subsidiary, you are faced with a number of important questions that must be properly considered to ensure the successful outcome of the process, including:

  • Is the company ready for a public listing?
  • Is the equity story suitable for a listing and how can the company best be positioned?
  • When and where should the company be listed?
  • How do you select the best marketing banks to help with the offering?
  • How do you ensure that your advisors are appropriately incentivised without overpaying? 
  • How do you ensure effective collaboration between all the parties involved?
  • How should the offering be structured? 
  • How do you ensure optimal marketing to institutional and retail investors?
  • What will investors be willing to pay for the company?
  • How do you ensure an appropriate valuation and a diversified high-quality shareholder base?
  • How to optimise aftermarket performance and balance against pricing of the offer?
Many of these questions are equally important for listed companies considering a capital increase and shareholders contemplating a secondary sale of a significant stake in a listed company.

How we assist our clients

An equity offering, in particular an IPO, is a complicated process with numerous advisers serving different stakeholders – some with conflicting interests. It is challenging and time consuming for owners and companies to design and manage this process effectively. 

Our partners have advised on IPOs and share issues on OMX Copenhagen since 1997. We offer high quality, independent and impartial advice and support in designing and executing equity offerings. Our typical involvement is in connection with an IPO where we plan and manage the work-flow and decision-making throughout the process so as to maximise the transparency, control and effectiveness of the process. 

Our services include:

Strategy and positioning

  • Assessment of company preparedness, timing and review of shareholder alternatives.
  • Company preparation including project planning, business plan assessment, equity story positioning, corporate governance and board composition.
  • Positioning, capital structure, dividend policy and value maximisation.

Syndicate selection and management

  • Selection of bank syndicate and other advisors including preparation for and execution of beauty contest, syndicate structure, negotiation of engagement terms and implementation of cost control measures. 
  • Supervising and/or coordinating IPO preparations including due diligence, equity story development and documentation.
  • Ongoing monitoring/discussion of syndicate banks’ views on valuation throughout the process.


  • Problem solving and dispute resolution to ensure a smooth, efficient process.
  • Structuring, monitoring and review of the marketing process, including analyst and road-show presentations, investor targeting, pre-deal investor education and road-show policy.
  • Analysis, review and interpretation of investor education and road show feedback.
  • Pricing, sizing and allocation decisions and tactics.

Our services to listed companies include the design and execution of share issues, rights issues and secondary sales.


Selected references

IPO of Netcompany

FIH Partners advised FSN Capital and the founders on the IPO of Netcompany

Deal value:
EUR 479 million

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Pandora IPO

FIH Partners acted as IPO advisor to Pandora A/S and Prometheus Invest ApS

Deal value:
EUR 1.827 million

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Chr. Hansen IPO

FIH Partners acted as IPO advisor to Chr. Hansen Holding and PAI Partners

Deal value:
EUR 2.185 million

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Placement of shareholding

FIH Partners advised Realdania on the ABB of 52m shares in Danske Bank A/S

Deal value:
EUR 733 million

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