Investor relations

COWI Holding A/S is the Group's holding company, owned by the COWI Foundation and COWI employees.

The involvement of COWI employees in the circle of owners is an important part of COWI's strategy.

We believe that employee ownership will increase cooperation within the COWI Group and strengthen coherence between performance and the employees' competencies and efforts.

In short, having employees in the circle of owners is an important premise for COWI’s future success.

The COWI Foundation holds all A shares plus some B shares, approximately 87 per cent of the share capital. Employees hold approximately 13 per cent. (May 2022)

(Learn more by clicking Ownership under Read more)

The shares

COWI Holding A/S' share capital (Dec 2021) is DKK 286,593,700 (28,659,370 votes).

  • DKK 200,000,000 is made up of A shares (divided into A shares of nominal DKK 100 or multipla thereof, carrying 20,000,000 votes) fully owned by the COWI Foundation.
  • DKK 86,593,700 is made up of B shares (divided into 865,937 B shares of nominal DKK 100, carrying 865,937 votes) owned by the COWI Foundation, COWI employees and COWI Holding A/S.

Who can acquire shares?

B shares in COWI Holding A/S can be acquired by COWI Group employees and management in COWI Holding A/S and COWI Foundation provided: 

  • The employee is employed with a COWI Group company in territories where the employee share program is made available. Applicable territories are determined annually in connection with the annual general meeting. 
  • The employee has not handed in a resignation, been terminated or been laid off at the time the B shares are purchased.

Employees, management in COWI Holding A/S and COWI Foundation may acquire as many of the available B shares according to a sales offer as they wish, provided that no individual at any time can hold a total number of B Shares exceeding a fixed limit of 0.5% of the share capital issued in COWI Holding A/S. 

The share price

The B share price is determined by the company’s equity value which is defined by the company's net worth divided by its share capital.

A new share price is calculated every year after the annual general meeting. This price will last until the following year's annual general meeting. 

Selling shares

Sale of B shares is done via COWI's shareholder portal with Computershare. COWI's sharehoder portal can be found here.

Annually, in connection with the opening of the share trading window, current and former employees will receive an email with a link to the shareholder portal.

Shareholders may sell the B shares each year in the annual share trading window (within 4 weeks after the annual general meeting) and there is no period of commitment before it is possible to sell. However, local variations and/or legal requirements may be applicable in some countries.

Former employees

If the shareholder's employment with the COWI Group is discontinued, the shareholder is under an obligation to sell back B shares in the first coming sales window (within 4 weeks after the annual general meeting). However, in certain instances former employees may keep the B shares for an additional three year period. (Learn more by reading Terms for possession of B shares under Read More.


The content of this web site is made available as a service and for information purposes only. While we have attempted to maintain the information as accurate as possible, this general information about the COWI Share Programme does not replace, amend, alter or in any other way modify the terms and conditions set out in the Terms of possession of B shares or similar terms or conditions as individually agreed and accepted by the shareholders as part of the acquisition and/or possession of shares. 

Get in contact

COWI-medarbejder Linda duncan Wendelboe

Linda Duncan Wendelboe
Head of Communication
Communication, Denmark

Tel: +45 56405351