The CEO of Novo Holdings, the controlling shareholder of Danish drugmaker Novo Nordisk , said on Tuesday he sees the window for initial public offerings (IPOs) opening within 18 months and is encouraging portfolio companies to get ready.
Flags with the Novo Nordisk logo flutter outside their Danish company's offices in Copenhagen, Denmark, September 26, 2023. REUTERS/Tom Little REFILE - CORRECTING LOCATION/File Photo
Novo Holdings holds 28.1% of economic shares and 76.9% of voting shares in Novo Nordisk, now Europe's most valuable listed company, worth about 385 billion euros. According to Berenberg analysts and Reuters calculations, the Foundation will receive about $12.5 billion in returns between last year and 2026. That is roughly double what it received over the years 2018-2021 before Wegovy launched in the United States.
Kutay said Novo Holdings has 161 portfolio companies, which do not reflect its full investment activities, given the investments are through external portfolio managers and funds into other companies.
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