Rosnano cuts Pharmsintez stake to 25% as part of secondary offering of company's shares

MOSCOW. Aug 17 (Interfax) - Rosnano has reduced its stake in Pharmsintez from 36.6% to 25%, the state corporation said in a statement.

The relevant changes took place on July 6.

As the Rusnano press service told Interfax, the reduction in the stake was due to the results of a secondary offering of Pharmsintez shares. "As a result of the successfully conducted secondary offering, it is natural that Rosnano saw its stake decrease, while still retaining a blocking stake," the company said.

Pharmsintez conducted a secondary offering in June, within which it placed 139,384,100 ordinary shares at a placement price of 5.05 rubles each. The charter capital following the secondary offering stands at 2.2 billion rubles.

Pharmasintez Group is a major Russian manufacturer of antituberculosis, antitumor, antiretroviral drugs and hospital antibiotics. The company's facilities are located in Irkutsk, Bratsk, Ussuriysk, St. Petersburg and Tyumen.

In 2022, the company's revenue totaled 309.1 million rubles and its net loss was 264.5 million rubles.