(Ecofin Agency) - Previously planned for January but later postponed, for technical reasons, the listing of Algerian pharmaceutical firm Biopharm has been rescheduled. In a statement published on February 22, Biopharm said subscriptions to its IPO would take place from March 13 to March 23, 2016.
Interested investors can subscribe with any of the nine stock intermediaries that constitute the syndicate of underwriters which has Banque Exterieure d’Algerie (BEA) at its head, the company said. “Intermediaries include : Banque Exterieure d’Algerie, Banque de l’Agriculture et du Developpement Rural, Banque de Developpement Local, Banque Nationale d’Algerie, BNP Paribas El Djazaïr, Cnep-banque, Societe Generale Algerie and Tell Markets », the firm added.
A total of 5,104,375 shares or 20% of the firm’s capital will be offered, at a price of 1,225 dinars per share for public and 1,102.5 dinars per share for the employees of the firm, which expects to raise 6.25 billion dinars (€53 million).
First listing of the Biopharm share is expected on April 6, 2016.
