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Healthcare

Russia's Gemabank Raises 150 Mln Rbls In IPO On Moscow Exchange

July 26 (Reuters) - Human Stem Cells Institute (HSCI) :

* SAID ON THURSDAY THAT ITS SUBSIDIARY INTERNATIONAL MEDICAL CENTER OF BIOMATERIALS PROCESSING AND CRYOSTORAGE (GEMABANK) RAISED OVER 150 MILLION ROUBLES IN AN IPO ON MOSCOW EXCHANGE

* GEMABANK PLACED 223,948 ORDINARY SHARES AT 672 RUBLES PER SHARE

* FREEDOM FINANCE WAS THE ORGANIZER OF THE IPO, ALOR+ ACTED AS TECHNICAL UNDERWRITER

* TRADING IN GEMABANK SHARES WILL START ON JULY 26

* GEMABANK PLANS TO USE THE PROCEEDS TO EXPAND AND EQUIP ITS CRYO-STORAGE AND LABORATORY, AND CARRY OUT RESEARCH INTO THE TREATMENT OF SERIOUS DISEASES WITH THE HELP OF UMBILICAL CORD BLOOD STEM CELLS Source text: bit.ly/2YuFUEc Further company coverage: (Gdynia Newsroom)

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