Novo Nordisk mulls listing IT subsidiary

The world's biggest maker of insulin, Novo Nordisk, is mulling a listing of its wholly-owned IT unit, NNIT, on the Copenhagen stock exchange, the subsidiary said today.
"NNIT informs that the company has been requested by Novo Nordisk to explore the potential for a listing on NASDAQ OMX Copenhagen," the company said in a statement.
"The aim is to explore the potential for an IPO (initial public offering) and to evaluate whether a listing of NNIT would support the continued development and value creation of the company," it added.
The Soeborg-based information technology company has hired a new chief financial officer, Carsten Krogsgaard Thomsen, to oversee a probe into its future ownership.

NNIT employs about 2,200 people and reported sales of 2.2 billion kroner (295 million euros, USD 402 million) last year.
It was established in 1998 as a separate company from Novo Nordisk, which has remained its only owner.
Revenue from clients outside the Novo Nordisk group has been steadily increasing and is expected to account for half of its business this year, it said.