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16.04.2008

Pharmstandard gets FCSM nod to list 5 pct of its total shares outside Russia

Russian pharmaceutical company OJSC Pharmstandard said Russian Federal Commission of Securities Markets (FCSM) has granted permission for additional 1.89 million shares, or around 5 percent of the company, to float outside of Russian Federation.

This FCSM permission could be used by major Pharmstandard shareholder Augment Investments Ltd. as additional mechanism of financing potential mergers and acquisitions, the company said.

Augment Investments plans to be flexible in financial instruments selection and has not announced any time for the realisation of the permission.

Currently 25 pct of the company's shares in form of global depository receipts float on the London Stock Exchange


Source:  www.forbes.com

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