A&D Pharma expects IPO to raise 120-155m euros

Dutch group A&D Pharma Holdings, which owns the Romanian pharmaceutical distributor Mediplus and the Sensiblu drugstores, expects to raise 120 to 155 million euros from its public offering on the London Stock Exchange. The initial public offering of A&D Pharma will include 34.5% of the shares held by the main shareholder, Sograno, and is scheduled for early November. The price per share was set at 1.75 to 2.25 euros. Under the circumstances, the company expects a market capitalisation of 350 to 450 million euros. The shareholders had the business valued at 300 million euros at the beginning of this year. “The initial public offering and the listing on the London Stock Exchange are meant to improve the company’s image and position us in the same league as comparable international companies, as well as to allow us access to the international financial markets,” the group’s general manager Dragos Dinu stated in a release. At the same time, A&D Pharma appointed David Ebsworth as chairman of the group. He has had 25 years experience in the pharmaceutical industry. A&D Pharma shareholders are the Sograno company and individuals Ludovic Robert Charles Simon, Michel Charles Eid, Roger Fawzi Al Akoury and Walid Abboud. Most of the business of the company is carried out in Romania, through pharmaceutical distributor Mediplus and the Sensiblu drugstore network.