The Novo Nordisk Foundation is a non-profit institution, whose 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 is an unlisted Danish public limited liability company, owned by the Novo Nordisk Foundation and 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. Year-end 2010 Novo A/S represented 25,5% of the total share capital and 72,8% of the total number of votes. This figure is not adjusted for Novo Nordisk A/S' holding of treasury shares. This means that Novo A/S has the voting majority at the company's Annual General Meeting.
Novo Nordisk shares
Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen. Moreover, Novo Nordisk’s ADSs are listed on the New York Stock Exchange. Novo Nordisk’s share capital is DKK 600,000,000, which is divided into an A share capital of nominally DKK 107,487,200 and a B share capital of nominally DKK 492,512,800. Novo Nordisk’s A shares are non-listed shares and held by Novo A/S (based in Gladsaxe, Denmark), a private limited Danish company which is 100% owned by the Novo Nordisk foundation (based in Gentofte, Denmark).
The B shares are traded in units of DKK 1. The ratio of Novo Nordisk B shares to ADR's is 1:1. The B shares are issued to the bearer, but may upon request be registered in the holder's name in Novo Nordisk's register of shareholders. Each holding of DKK 1 of A share capital carries ten times as many votes as each holding of DKK 1 of B share capital. Each A-share carries 1000 votes, whereas each B-share carries 100 votes (end of 2010 figures).