IPO of Russian Group of Companies Protek

Group of Companies Protek plans to attract about $ 400 million during the IPO, said President of the Group Vadim Muzyaev. 

The transaction is planned in May - early June. He declined to specify the proportion of issued shares of the company. 

Protek Shares will be placed on behalf of companies Tantarra Holdings Limited and Streitum Investments Limited, registered under the laws of Cyprus.

Tantarra announced its intention to use a portion of the proceeds from the placement for the purchase of new ordinary shares for private subscription, which will be carried out later. 

Protek operates in three major segments of the pharmaceutical industry: distribution, retail and manufacturing. Distribution accounts for about 85 percent of total revenue. 

Investment banks estimated Protek approximately at  $ 2 billion to the IPO. 

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