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WDH / IPO: Pharmaceutical manufacturer PharmaSGP manages Brsengang very narrowly message

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(Time reference in the first paragraph, fourth sentence corrected: The announcement about the reduction of the offer volume also took place on Thursday.)

GRÄFELFING (dpa-AFX) – The pharmaceutical manufacturer PharmaSGP has just made it onto the trading floor. The issue price for the shares was set at EUR 31.50 per share certificate, the company announced late Thursday evening. This is the lower end of the price range, which went up to 36.50 euros. The company had previously significantly reduced the volume of the IPO to around four million shares. All of these have now been sold. The first day of trading in the regulated market (Prime Standard) of the Frankfurt Stock Exchange should be this Friday.

However, the company itself will not receive any money from the IPO; rather, the existing shareholders and founders want to sell their shares in order to finance other projects.

In the past year, the company had previously reported sales of EUR 62.6 million, of which 35.8 percent remained as earnings before interest and taxes (EBIT). In the first quarter of 2020, which was dominated by the coronavirus pandemic, sales increased by a good eleven percent compared to the same period in the previous year to 16.7 million euros. Ebit increased by a good 13 percent to 4.3 million euros



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