|Medical news of Remedium.ru portal is the most update information on pharmaceutical and medical equipment market|
Home / News
Russian Drug Company Protek Sets Price Range For MICEX, RTS IPO
Russian drug group OAO Protek Wednesday set the indicative price range for its initial public offering from $3.10 to $4.50 a share, adding that it expect to sell $400 worth of stock. Around half of the sum raised will go to existing shareholders.
Protek has received permission from Russian regulators to list 117.5 million shares, representing a fifth of its post-issue capital, which would imply a valuation of $2 billion for the group.
The company had revenue of 91.58 billion rubles ($3.01 billion) in 2009, with earnings before interest, depreciation and amortization of RUB5.84 billion.
Protek is Russia's largest distributor of pills and medicine--accounting for just over a fifth of that market.