STOCKHOLM, March 19 Swedish contract drug maker
Recipharm said it planned to raise up to 898 million Swedish
crowns ($142 million) in a listing on the Stockholm stock
exchange, joining a recent wave of Nordic share sales.
Recipharm said the offer would comprise 10.4 million new
shares and 6.3 million existing shares to be sold at between 72
and 86 crowns per share, giving the firm a market capitalization
of up to 3.08 billion crowns, and possibly an additional 2.5
million existing shares to cover possible oversubscription.
First day of trading is expected to be April 3, Recipharm
Recipharm, a contract manufacturer and developer of drugs
for the pharmaceutical industry, made earnings before interest,
tax, depreciation and amortization (EBITDA) of 283 million
crowns in 2013 on sales of 2.1 billion and employs around 1,500.
Recipharm was founded in 1995 and is jointly owned by its
two founders - Chairman Lars Backsell and Chief Executive Thomas
Link to statement: r.reuters.com/cud77v
($1 = 6.3409 Swedish Crowns)
(Reporting by Sven Nordenstam, editing by Louise Heavens)