The flotation began with an offer of 750,000 shares, increased by 115,000 during the day when Nordtank's majority shareholder, Union Bank of Switzerland, relinquished all but 5% of its 75% holding. By the end of the day Nordtank had 4000 new shareholders -- and DKK 49 million ($8.4 million) in new capital. The major shareholder is now Nordtank's managing director, Vagn Trend Poulsen, who after the flotation owns 20%.
The flotation of wind turbine manufacturer Nordtank on the Danish stock exchange was so successful that buyers for as many as 5.7 million shares -- at the top price of DKK 350 for a DKK 20 share -- were left on the sidelines on November 13. Trading was brisk on the following day, though, with share prices rising to DKK 371 after 165,000 shares changed hands.