Centro Médico Genetico made its first IPO this year on the Russian market. During the public offering of shares, the company raised 178.8 million, while the demand for securities exceeded the supply by 2.5 times.

Genetico Medical Center raised 178.8 million rubles during the first IPO in Russia this year

The first initial public offering in 2023 took place on the Russian stock market; was successfully carried out by the Centro Médico Genetico.

The company offered investors 10 million shares at a price of 17.8 rubles per share and thus attracted 178.8 million rubles, which corresponds to 12% of the capital. Genetico’s market value after the IPO amounted to 1.48 billion rubles.

Genetico noted that the demand for its shares exceeded the supply by 2.5 times and amounted to 439 million rubles. The company fully satisfied requests for the purchase of shares in the amount of up to 100 thousand rubles, in general, the requests were fulfilled in the amount of at least 30%, reported Genetico.

Genetico will use the funds raised as a result of the initial public offering to develop genetic services in Russia, enter foreign markets and create drugs for the treatment of orphan diseases.

Genetico is dedicated to research in the field of genetics and reproductive technologies. It is a subsidiary of the Human Stem Cell Institute, which owns more than 85% of Genetico’s shares.


Kirill Bilyk

Source: RB

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