The first Pharmaceutical Company with an IPO in Argentina successfully started trading 17.5% of its Capital Stock in order to conduct its new growth and investment strategy.
Laboratorios Richmond (Laboratories) a leading Pharmaceutical Company and one of the main providers of oncologic and VIH related drugs, closed its primary subscription period at BYMA (Stock Exchange in Buenos Aires) receiving 1.932 bids, translated into a placement of 14,167,164 new shares quoted ARS 37 each.
Considering this event, Luis Álvarez, BYMA, Bolsas y Mercados Argentinos Director highlighted that “It is big news closing the year with a local company which starts trading in BYMA, added to many other successful events we have experienced during 2017, when companies were financed by the stock exchange market for more than 3,800 million dollars. BYMA will continue generating an adequate environment in order to provide financing opportunities which make many more companies ‘projects come true within the local capital market.”
Marcelo Figueiras, Richmond President, said: “We are the first Argentine pharmaceutical laboratory that is trading in the stock market. So far, local or international investors could not invest in a company of this industry, and now we are offering them this new tool, so they are able to diversify their investments within an industry which was not opened to investors before. This unique opportunity is now being evidenced by the big number of corporate and retail investors who have trusted Richmond; we have received more than 1,900 investment orders for a total amount of ARS 675 million, and the Company has decided to take orders only up to 17.5% of its Capital, so Richmond will be capitalized by ARS 524 million.”
As regards the IPO participants, Puente led the trading transactions as Broker-leader and Underwriter, together with BST, which acted as Co-Underwriter.
Press
Infobae -Laboratorios Richmond comenzó a cotizar en el ByMA
Cronista - Laboratorios Richmond comienza a cotizar en BYMA
Clarín Económico
InfoNegocios
Cinco Ruedas