Denmark's Danske Bank A/S said on Tuesday Cevian Capital and funds it represents had raised their aggregate stake in Danske to 5.02 percent.

Sweden-based Cevian, known as an activist investor, and associated funds hold 46.74 million shares in Danske Bank, Denmark's biggest banking group said in statement.

Cevian co-founder Lars Forberg said in a separate statement: The long-term fundamental value of Danske Bank is not reflected in the current depressed share price.

Forberg said Cevian supported efforts to make Danske one of the strongest and most profitable banks in the Nordic region.

As an engaged owner, we are looking forward to working with the board, management and other shareholders, Forberg said in the statement.

Danish shipping and oil group A.P. Moller-Maersk and an associated Moller family fund together have a total of 22.76 percent of Danske Bank's share capital.

Shares in Danske Bank rose 3.3 percent on a soft Copenhagen bourse on Monday, which financial daily Borsen attributed to rumors that the bank could be subject to a raid by Cevian. Trade resumes on Tuesday at 0800 GMT.

(Reporting by John Acher; Editing by David Holmes)