June 14 (SeeNews) - Dutch-registered livestock animal health company Huvepharma BV, owned by Bulgarian investor Kiril Domuschiev, on Monday unveiled plans to list on Euronext Amsterdam.
The offer is expected to comprise a primary offering of newly issued shares worth approximately 300 million euro ($363.4 million) and a secondary offering of existing shares by the company’s sole shareholder, Bulgaria-registered Advance Properties, Huvepharma said in a press release.
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The offering is expected to take place in the coming weeks.
The terms of the floatation have not yet been set. The offering is subject to market conditions and other relevant considerations.
The pharmaceutical company said it intends to use the proceeds from the offering to fund and accelerate its growth capital expenditures as well as to its cut debt that stood at about 474.1 million euro as of December 31, 2020.
JP Morgan , BNP Paribas and Citigroup Global Markets Europe have been hired as lead bookrunners for the transaction.
Amsterdam-headquartered Huvepharma is focused on developing and manufacturing animal and human health and nutrition products, claiming to be the sixth largest company globally in animal health products for livestock. It operates production sites in Italy, France, Bulgaria and the US across a total of 13 locations.
The business booked revenue of 588 million euro in 2020, up from 548 million euro in 2019. Its earnings before interest, tax, depreciation and amortisation (EBITDA) in the same period rose to167 million euro from 127 million euro, with a 2020 EBITDA margin of 28.4%.
Huvepharma’s parent company is owned by Bulgarian investors Kiril and Georgi Domuschiev, who are the ultimate controlling parties, according to the company's most recent financial statement.
($ = 0.82545 euro)
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