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Danish wind subsupplier readies IPO on Copenhagen growth exchange

Aiming to take the market lead and expand its business, Danish lubricant pump supplier Hove wants to raise capital in the stock market. Revenue will double in a few years, says CEO.

Hove's 32-year old CEO, Maja Vonsild Jørgensen, is one of the youngest CEOs of a listed Danish company. | Photo: Hove AS

There are a few commonalities among most Nordic renewable energy companies of recent years seeking stock market listings. Typically, these involve relatively newly founded businesses banking on hyped but still rather untested technologies like Power-to-X; and as general rule, such listings take place in Norway.

None of the above applies, however, to the latest Danish candidate. For around 20 years, Hove has developed and produced something as unglamorous as lubrication devices mainly used in wind turbines, and the company claims to already hold 40 percent market share and thereby the lead position within its segment – a position the firm now means to expand through an initial public offering on Nasdaq First North in Copenhagen, an alternative market for smaller companies' growth equities.

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