Poland/Enterprises/Pharmaceuticals
Warsaw (Puls Biznesu) – Ivax, the US pharmaceutical producer, is going to call investors to sell their shares of Polfa Kutno, till the end of this week. The US company is getting closer to its being listed on the Polish stock exchange GPW. ‘We believe the IPO will take place on December 14-16th’ Rao Uppuli, Ivax deputy CEO said.
Ivax is going to offer 8.2 million of its own shares for 1.4 million of Polfa Kutno shares. The shareholders of the Polish pharmaceutical producer will get Ivax shares worth PLN 340 (EUR 79.9) and a small cash amount.
Ivax will be the first US company listed on GPW. Thanks to the investor Polfa will have a chance to develop. ‘We will get access to modern production technologies and research base’, Janusz R. Gury, Polfa Kutno CEO said. Polfa promises not to reduce jobs. On the contrary, due to production development the number of employees will be increased. Polfa CEO believes that production can be moved to Poland from more expensive
countries.
(PLN 1 = EUR 0.235)