Scandinavian Tobacco plans public offering

Danish cigar and pipe tobacco manufacturer Scandinavian Tobacco Group (STG) is planning an initial public offering on the Copenhagen Stock Exchange, with its owners intending to sell as much as 40 percent of existing shares on an equal basis, reports Bloomberg.

STG is currently owned 49 percent by Swedish Match and 51 percent by the Augustinus Foundation and the Obel Family Foundation via Skandinavisk Holding II.