Aktieselskaber

An aktieselskab (A/S) is a form of limited-liability company under Danish corporate law. The company's capital is divided into shares, and the liability of shareholders is limited to the amount unpaid on their shares. The structure enables large-scale investment and the transfer of ownership through shareholding. The term is used primarily in Denmark; cognate forms exist in other Nordic jurisdictions.

Shares are generally freely transferable, subject to any restrictions in the articles of association. An A/S can issue different classes of shares and can raise capital by issuing new shares. Public A/S may offer shares to the general market and can be eligible for listing on a stock exchange; private A/S typically impose restrictions on transfer of shares.

Governance typically involves a general meeting of shareholders, a board of directors, and management. In larger or publicly listed A/S, there may be additional governance layers, such as a supervisory board and independent auditors, and stricter disclosure and reporting requirements. Financial statements must usually be prepared in accordance with applicable accounting standards and regulations.

Formation and regulation: An A/S is formed by registration with the national business registry and the preparation of articles of association describing the company's purpose, governance, and share capital. The official name generally ends with A/S. Law governs formation, capital requirements, board composition, auditing, and dissolution or liquidation.

Aktieselskaber are one of several corporate forms used for large enterprises in Denmark and other Nordic countries, providing a framework for attracting investment while limiting owners’ personal liability.