Abramovich became richer
thanks to capitalisation growth “ Farmstandarta “
Less than for half a year from the moment of carrying out IPO capitalisation “ Farmstandarta “ has increased almost by 40 % and has exceeded 3 mlrd dollars On Wednesday cost GDR of the company at the London stock exchange has reached a historical maximum and has made 20,1 dollars against 14,55 dollars at placing in May, 2007. By calculations daily, the share holding belonging to Roman Abramovich, has risen in price more than for 20 million dollars, to 74 million dollars However, according to analysts, this year securities “ Farmstandarta “ have already settled the potential of growth.
“ Farmstandart “ unites five pharmaceutical factories. In the first half of the year 2007 the company gain has grown on 52 %, to 170 million dollars, net profit - on 49 %, to 37 million dollars, EBITDA - on 67 %, to 65 million dollars During IPO on May, 3rd, 2007 “ Farmstandart “ Has placed in Russia and London of actions of 43 % at the price of 14,55 dollars for GDR (one action = 4 GDR). Capitalisation has made 2,2 mlrd dollars In the company till now do not open a share of shareholders after placing, however say that they are proportional to that were earlier. Thus, to the chairman of board of directors “ Farmstandarta “ Victor Haritoninu posesses 27,9 % of actions, a top - to manager Egor Kulkovu - 12 %, to Roman Abramovich - 9,7 %, to Evgenie Shvidleru - 3,4 %, Milhouse Capital Management - 4 %.
Growth of quotations in “ Farmstandarte “ connect with successful road - show in Europe and the USA on which the general director of the company Igor Krylov and its assistant under the finance Elena Arhangelsky have presented to investors financial results of the first half of the year 2007 published on September, 18th. If on September, 18th on LSE the price for GDR has made 18,5 dollars, on September, 19th - 19,3 dollars By October, 3rd cost of securities has reached that of the historical maximum, having made 20,1 dollars “ good results of the first half of the year 2007 in a combination to high rates of increase of the Russian pharmaceutical market became the Reason of such growth of a share price, - the assistant to the general director on corporate communications " speaks; Farmstandarta “ Olga Leshchansky. - We see growth of trust of investors to the company that proves to be true a growing demand for our actions “.
the Analyst “ Antanty the Capital “ Andrey Verholantsev agrees that in many respects growth of securities occurs thanks to good financial results of the company, however specifies also other reason of interest of investors to “ Farmstandartu “: “ Probably, many investment funds working with the Russian actives, could reconsider structure of the portfolios in the end of the third quarter, having paid attention to pharmaceutics. And from the Russian companies of this sector two bargain only - “ Farmstandart “ and “ Verofarm “ and last only in Russia. Thus, GDR “ Farmstandarta “ a unique paper in the West “.
At the same time the analyst believes that this year securities “ Farmstandarta “ already have practically settled the potential of growth. “ they on 90-95 % have reached the fair estimation, - has explained g - n Verholantsev. - Further all will depend on third quarter results, and also from announcements of any new possibilities of the company “.
Road - show has helped to interest and involve new investors who have created speculative demand for securities “ Farmstandarta “ the analyst " considers; finama “ Sergey Filchenkov. In its opinion, the company is already overestimated also potential for the further growth GDR is not present. “ Under our recommendations to IPO the target price of shares of company equaled 50,7 dollars (about 12,7 dollars for GDR. - daily) “ - the analyst has added. On RTS a stock value “ Farmstandarta “ since September, 18th has grown on 15 %, to 67,1 dollars