The Company’s largest shareholder is the Carlsberg Foundation

As of 31 December 2019, the Company’s largest shareholder was the Carlsberg Foundation, holding 29% of the share capital and 75% of the votes. In addition, Massachusetts Financial Services Company (“MFS”) has informed the Company that their holding of Carlsberg shares exceed 5% of the share capital. At the end of 2019, Carlsberg had approximately 40,500 registered shareholders.

Ownership Structure


Geographical Split of Shareholder Base