OREANDA-NEWS. December 10, 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. The organizer and the listing agent of the issue was Alor Invest,  the co-organizers - 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.

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.