Russia’s Pharmsynthez eyes raising $48 mln in SPO in late 2012, Focus Reports

Release Date: 2011-06-15

Russian pharmaceutical producer Pharmsynthez plans to make a secondary public offering (SPO) on the U.S.’ NASDAQ stock exchange in July–December 2012 seeking to raise U.S. $45 million–48 million, company’s Chairman Dmitry Genkin said at a conference.
Through the SPO, the company plans to increase its capitalization to $310 million–360 million with a projected rise to $1 billion, Genkin said. Pharmsynthez also plans to close a deal on buying a non-specified U.S. pharmaceutical company for up to $16 million in July–August. In late March, Pharmsynthez closed a deal to acquire a 100% stake in the charter capital of Estonian pharmaceutical producer AS Kevelt.

In November 2010, Pharmsynthez raised 528 million rubles through its initial public offering (IPO). The company offered 22 million additional shares, or up to 30% of its charter capital, at 24 rubles per share on the Moscow Interbank Currency Exchange (MICEX). Pharmsynthez, also known as Pharmsintez, is based in St. Petersburg.
Type: NORMAL
Company: Focus Reports
Country: Switzerland
Url: http://www.chemrar.ru/eng/i-news/index.php?ELEMENT_ID=11471&PHPSESSID=ab01145761ff6e002df0fecbb2c37853
 
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