Acquisition rumors skyrocket GN Store Nord’s share price

The share price of danske GN Store Nord, which makes hearing aids and headsets, has taken a jump Tuesday over noon.

The sudden increase in the share price of around 20 percent came after an article from the business media InsideBusiness about a possible acquisition of GN Store Nord.

“A number of buyers are now looking at the opportunity to intercept the squeezed audio group GN Store Nord, whose share price is in free fall,” wrote InsideBusiness.

According to the media, the buyers plan to delist the group from the stock exchange. After that, parts of the company must be sold off.

In the hours following the story and the sudden stock jump, the GN Store Nord share has moved between a 15 to 20 percent increase in value since trading started on Tuesday morning.

After a boom during the corona epidemic, where headsets for homework and online meetings were particularly sought after, GN Store Nord has had a hard time repeating the same sales in 2022.

It has also been noticed in the stock markets where the money has moved away from the GN Store North stock. From the new year, until trading closed on Monday, the stock lost 43.5 percent of its value.

The audio group is a billion-dollar business with sales of DKK 15.8 billion in 2021.

The group’s two business units are GN Hearing and GN Audio.

GN Hearing sells and develops hearing aids, GN Audio makes headsets, among others, of the brand Jabra.

GN Audio is the Big Brother. In recent years, the Audio division has grown a lot and has overtaken the Hearing division in terms of revenue.

While GN Hearing has had stable sales of around five to six billion kroner for several years, GN Audio has grown from around four billion kroner in 2017 to over ten billion kroner in revenue last year.

/ ritzau/