Promomed has set an indicative IPO price range at the level of 375 rubles to 400 rubles per share, which corresponds to the company's market capitalization in the range of 75 billion rubles to 80 billion rubles, excluding funds raised as part of the IPO. This is stated in the company's message.
The size of the offer will be about 6 billion rubles. Thus, within the framework of the IPO, investors will be offered approximately 7.5-8% of the total number of issued shares, excluding shares placed under the IPO.
Within the framework of the offer, a stabilization mechanism of up to 15% of the basic size of the offer will be structured, which will be valid for 30 days after the start of trading in shares on the Moscow Stock Exchange.
The basic size of the offer includes shares issued by the company as part of an additional issue (cash-in).
The company plans to use the funds raised following the results of the IPO for the development, registration and market launch of new innovative drugs, as well as to reduce the debt burden and optimize the capital structure.
According to the results of the IPO, the largest shareholder of the issuer will retain a controlling share in the authorized capital of the company.
The final offer price will be determined upon completion of the application book formation process, which will end on July 11, 2024.
It is expected that the start of trading in shares will begin on July 12, 2024 under the ticker PRMD and ISIN RU000A108JF7 after the announcement of the IPO price.
As a result of the offer, from July 12, 2024, the company's shares will be on the second quotation list of securities admitted to trading on the Moscow Stock Exchange.
In the event of an IPO, the company and the current shareholder will assume obligations limiting the disposal of shares within 180 days after the completion of the IPO.
Promomed is a biopharmaceutical company. The company's net profit by the end of 2023 amounted to 3 billion rubles, EBITDA – 6.3 billion rubles.
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