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07.11.2007

Russia pharmacy 36.6 raises $115 mln in share issue

Russian pharmacy chain 36.6  said on last Friday it had raised about $115 million in a share issue to fund expansion and increase its free float.

The firm, which runs more than 1,000 health and drug stores and also owns generic drug maker Veropharm, said it had placed 1.5 million shares, equal to 15.8 percent of its enlarged capital, at 1,889 roubles ($76.60) each.

It said earlier holders of 47,673 shares, representing 3.2 percent of the share offering, had exercised their pre-emptive rights to buy shares in the issue.

The firm's Moscow-listed stock last traded at 1,870 roubles on Friday, down 0.5 percent from the previous close. ($1=24.66 Rouble)


Source:  reuters.com

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