Ownership
Novo Nordisk’s share capital is divided between holders of A shares and holders of B shares. All A shares are held by Novo A/S, a Danish private limited liability company fully owned by the Novo Nordisk Foundation, which is a private self-governing institution. The B shares are traded on the stock exchanges in Copenhagen and London, and in the form of American Depositary Receipts (ADRs) on the New York Stock Exchange. Each A share carries 20 votes, whereas each B share carries 2 votes.
The Novo Nordisk Foundation’s formal purpose is to provide a stable basis for its company's operations and to make contributions to scientific, humanitarian and social progress.
Novo A/S was established to manage the Foundation's funds and to invest actively in other companies. All A and B shares in Novo Nordisk A/S previously held by the Novo Nordisk Foundation were transferred to Novo A/S on 31 December 1999. They currently represent 25.5% of the total share capital and 71% of the total number of votes. This means that Novo A/S has the voting majority at the company's Annual General Meeting.
Novo Nordisk's shares
Novo Nordisk’s B shares are quoted on the stock exchanges in Copenhagen and London, and in the form of American Depositary Receipts (ADRs) on the New York Stock Exchange with the ticker code ‘NVO’. The B shares are traded in units of 2 Danish kroner. The ratio of Novo Nordisk B shares to ADRs is 1:1. The B shares are issued to the bearer but may, on request, be registered in the holder's name in Novo Nordisk's register of shareholders. Each holding of 2 Danish kroner of A share capital carries 10 times as many votes as each holding of 2 Danish kroner of B share capital. Each A share carries 20 votes, whereas each B share carries 2 votes.
This page has been assessed by PricewaterhouseCoopers as part of its assessment of Novo Nordisk’s statement that it reports ‘in accordance’ with GRI. Please refer to Audit and assurance for a full description of the nature of assurance offered.
