News

2009-03-12 Poland: Sopharma to list in Warsaw

Sopharma, the leading Bulgarian drug maker, on 9 March revealed plans to list its shares on the Warsaw Stock Exchange. The company currently has a listing in Sofia, where it is the third-biggest investor by market capitalisation. However, trading on the Sofia bourse all but dried up due to the financial crisis, wiping 75% off the value of its stocks over the past 12 months. Warsaw, by contrast, offers much better liquidity and will raise the company’s visibility for foreign investors and consumers, Sopharma said.

Sopharma plans to retain a dual listing in Sofia and Warsaw. The main formal hurdle was cleared on 6 March when Bulgaria’s financial regulator approved the company’s prospectus to list its total registered capital of BGN 132m (€68m) on an EU market. However, some technicalities remain to be settled and the dual listing is unlikely to go on in the first half of the year, said Pelagia Viacheva, investor relations director at Sopharma.

Izabela Klockowska
Source: www.pharmapoland.com