Ascendis Pharma announces direct listing of ordinary shares on Nasdaq

Mazanti-Andersen advises long-term client Ascendis Pharma A/S in connection with its planned direct listing of ordinary shares on the US Nasdaq Global Select Market, expected to become effective on April 20, 2026.

The transaction involves an exchange of all outstanding American Depositary Shares (ADSs) for ordinary shares on a 1:1 basis.

The contemplated transition from an ADS-based structure to a direct listing of ordinary shares, the first of its kind for a Danish company, is intended to broaden access to global investors and may facilitate inclusion in certain equity indexes, potentially enhancing trading liquidity and institutional ownership.

Ascendis Pharma is a biopharmaceutical company with a market cap of approximately USD 14.45 billion that utilises its TransCon technology platform to develop new therapies that demonstrate best-in-class potential to address unmet medical needs.

Mazanti Transactions acted as Danish legal counsel to long-term client Ascendis Pharma throughout the process with a team comprising Lars Lüthjohan, Gyrithe Falck, Jens Ahrendt, Liva Kellberg, and Daniel Gharabaghi Stückler.