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By
Reuters
Published
Feb 17, 2010
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Jewellery firm Pandora eyes $1 billion IPO

By
Reuters
Published
Feb 17, 2010

COPENHAGEN, Feb 17 (Reuters) - Danish private equity fund Axcel aims to raise $1 billion this year through an initial public offering (IPO) of shares in Danish jewellery maker Pandora, two investment bank sources told Reuters on Wednesday 17 February.


Charm by Pandora

Axcel owns almost 60 percent of Pandora, whose revenue grew to around 3 billion Danish crowns ($550 million) last year from 1.9 billion in 2008.

"I think it will be this year. Otherwise a consortium would not be set up and meetings held," one of the sources said, speaking on condition of anonymity.

Top executives at Axcel and Pandora declined to comment.

Three planned European private-equity-backed IPOs have been pulled this month due to weak investor interest.

(Editing by John Stonestreet)

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