Zentiva BV is planning an IPO on the Prague Stock Exchange and will also offer GDRs to be traded on the London Stock Exchange. Zentiva, owned by private-equity firm Warburg Pincus, is one of the largest pharmaceutical companies in the CE region (it is the market leader in the Czech Republic and Slovakia with market shares in generic pharmaceutical products of 51% and 61% respectively). Zentiva's proforma sales reached USD 357m and operating profit stood at USD 79m in 2003.
The company intends to raise approx. USD 100m (CZK 2.7bn), which will be used to pay off its debt from the acquisition of the Slovak Slovakofarma in August 2003 and further expansion into other key CEE markets. The timing of the IPO process has not been disclosed. Source: Czech Press Agency
Jitka Oppitzová, Patria Finance