IPO of Russian Group of Companies Protek

One of the largest Russian pharmaceutical distributors - Protek - today announced the final price of its IPO. Following the collection of bids from potential buyers, it was determined that the company's shares will be sold at 3.5 dollars per unit. But Protek can still achieve the main thing - to attract as a result $ 400 million. 

Based on the demand for its securities, the company defined the volume of placement: to sell 114 million 285 thousand 714 ordinary shares. Proportion of shares in free float after the completion of all procedures (after the IPO will be a closed subscription) will be 20,2%. 

"Successful IPO is a crucial stage in the development of the company, we are very pleased with the reaction of investors to our proposal," - said president of  Protek Vadim Muzyaev. According to him, the esults indicate the confidence of investors in the company's business development strategy in all segments.

As previously reported, part of the funds raised during the IPO, will be aimed at expanding business of Protek, in particular, emphasis will be placed on the development of production. Also planned investments in expanding brand portfolio, mergers and acquisitions, retail development.
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