Biotechnology company Promomed has announced that the price range for its upcoming initial public offering will be 375-400 rubles per share, the pharmaceutical manufacturer said.
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Biotechnology company Promomed announced an IPO price range of 375-400 rubles per share
The company announced plans to hold an initial placement on the Moscow Stock Exchange on June 28. Prior to this, the media wrote that as part of the IPO, the manufacturer of the Ozempic analogue could raise about 10 billion rubles.
The price range of 375-400 rubles per share corresponds to a company capitalization of 75-80 billion rubles.
The value of the offer will be about 6 billion rubles. Investors will be offered 7.5-8% of the total number of shares issued, excluding those placed as part of the IPO. The basic size of the offer will be the shares issued during the additional issue.
Applications will be accepted from July 5 to July 11. The company expects to start trading on the Moscow Stock Exchange under the symbol PRMD on July 12. After the IPO, the company’s largest shareholder will retain a majority stake in the authorized capital.
According to the press service of Promomed PJSC General Director Alexander Efremov, the company plans to launch “innovative products” in the segments of oncology, neurology, endocrinology and neurology, as well as in the field of antiviral drugs, in 2025.
By 2028, Promomed wants to more than double the number of innovative solutions in its portfolio.
Author:
Natalia Gormaleva
Source: RB
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