At their extraordinary meeting due September 18, the shareholders of OJSC Pharmsynthez will consider increasing the company's authorized capital through a follow-on offering. The record date for the meeting is August 13, the company informed.
The Board of Directors set the placing price equal to RUB 22.08 per additionally issued share. The total amount of the follow-on offering has not been disclosed.
Also, the shareholders are expected to approve interested-party transactions with Guardum Pharmaceuticals, LLC and AS KEVELT.
Pharmsynthez (tax number: 7801075160) established 1996 is an innovative pharmaceutical company developing new medicines and innovative technologies of preparation of their components. The company is engaged in manufacture and marketing of both original finished pharmaceutical products and active pharmaceutical substances.
The largest shareholder of Pharmsynthez is Amber Trust, an international fund established by investment funds Firebird Management (USA) and Danske Capital (Denmark) to invest in Russia and the Baltic States. D. Genkin, Chairman of the company's Board of Directors, owns the remaining shares.
According to preliminary data, RAS net profit of Pharmsynthez for 2012 was equal to the 2011 result (ca. RUB 30 million). Aggregate revenue amounted to RUB 382 million (15% above the target approved by the Board of Directors. EBITDA rose by 10% to RUB 70 million.