OREANDA-NEWS. December 9, 2010. Farmsintez floated its shares in the MICEX market for innovations and investments. Farmsintez sold the entire amount of shares offered to investors in the IPO.

ALOR INVEST acted as the organizer and the listing agent of the issue. The co-organizers of the issue were VELES Capital, Otkrytie Financial Company, Finam Investment Company and Itinvest Company.

Secondary trading in Farmsintez securities on the MICEX will start on November 25.

The IPO Order Book was closed on November 18. Demand exceeded supply by about 25%.

The share price, determined by the issuer, amounted to 24 rubles. In the framework of the IPO investors bought 22 million shares of additional issue or 30% of the share capital of Farmsintez. Thus, in the course of its IPO, Farmsintez raised 528 million rubles and its market capitalization on the day of placement of shares amounted to 1,716 million rubles.

Dmitriy Genkin, Chairman of the Board of Directors of Farmsintez, thanked the investors who entered their purchase orders, the organizer of the placement, ALOR INVEST, the organizer of trading, the MICEX, and RUSNANO Corporation, with the support of which the MICEX market for innovations and investments was created and is now operating.

According to Dmitry Genkin, “through our joint efforts we performed two major tasks. We raised funds for the investment program of Farmsintez and distributed our shares among the widest circle of investors. In future, this will ensure the high liquidity of the Company’s securities. I have no doubt that we will successfully implement our investment program, increase the Company’s capitalization and bring unique pharmaceutical drugs to the Russian and world markets. I am sure that we will answer the expectations of the new shareholders in Farmsintez.”

Maxim Dremin, Head of Corporate Finance Department of ALOR INVEST, said that “in meetings with investors, which we held in preparation for the IPO of Farmsintez, we saw strong interest of the investment community in innovation companies and issuers from sectors that are almost not represented in the Russian stock market. I think that the successful placement of Farmsintez shares will encourage an increasing number of domestic companies to enter the stock market.”

Congratulating participants in Farmsintez IPO on the successful placement of shares, the MICEX President Ruben Aganbegyan said: “Farmsintez Company’s entry into the MICEX market for innovations and investments is an important step for the issuer itself and for the entire Russian stock market. I am confident that increase in the number of public companies and the development of innovation sectors will help us to accomplish our common global goal, the creation of an international financial center in Russia.”

All funds raised in the IPO will be used for the implementation of Farmsintez Company’s investment program, which includes the construction of a new factory of officinal medicines in the Leningrad Region, the completion of clinical trials of drugs in Europe for the purpose of bringing them to European and US markets, the acquisition of industrial and research companies abroad and expansion into Russia’s regions and the CIS countries. The plans of Farmsintez include bringing its securities to NASDAQ stock exchange, the terms of admission to trading on which are among the toughest in the world.